US tariff on SA unfair - Agri Business Chamber
The Agricultural Business Chamber says the 30% tariff
imposed by the US on South Africa is unfair.
South Africa is one of 60 countries being singled out in US Donald Trump's new tariff plan.
He revealed the reciprocal levies during his Liberation Day speech at the White House on Wednesday.
Trump claimed the U.S. was charging about half of what the countries are charging them for goods.
READ: US tariffs ‘punitive and concerning’ – SA Presidency
He said the new tariffs were finally putting America first.
"We can't do it anymore. We take care of countries all over the world, pay for everything they have to pay, and then when you want to cut back a little bit, they get upset that you're not taking care of 'them any longer. We have to take care of our people,” said Trump.
The Agricultural Business Chamber’s Wolfe Braude has questioned the methodology behind the tariff calculations.
He says the figures are subjective and disputable.
"So, our average tariff is so low that the only way to get to 30% would have been to try and attach a number to things like VAT and perhaps elements of government policy or non-tariff barriers.
"And those are very subjective calculations and other type of calculations that economists have a lot of arguments about. So now we are not convinced that the tariff calculation is appropriate for the trade relationship.
Braude wants negotiations to ease the trade fallout.
"Overall, as an economy, we will survive a smaller trade relationship. But at the same time, we are not in a position to lose 10,000 or 5,000 jobs with our unemployment rates and inequality.
"So, we really have to protect this relationship and see if we can find a way to get the tariff lifted and find common ground. We believe that the Americans already sent out signals about negotiating and wanting to negotiate."
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