(2 Minutes Read)
U.S. imports from South Africa face a 30% duty. Ramaphosa’s office said he had held a telephone call with Trump and that the trade negotiating teams of both countries would have more detailed talks. Meanwhile, the Governor of the South African Central Bank discounted the impact on the country in view of South Africa’s trade exposure with the EU, Japan, BRICS, and ASEAN countries.
The South African Rand was unchanged as investors awaited details of President Cyril Ramaphosa’s telephone call with his U.S. counterpart, President Donald Trump, on bilateral trade. After the talk, Ramaphosa indicated that the talks to reduce the tariff rates would continue. He exuded optimism about a review of the tariff rates, which is incidentally the highest imposed on a Sub-Saharan African country.
U.S. imports from South Africa face a 30% duty. Ramaphosa’s office said he had held a telephone call with Trump and that the trade negotiating teams of both countries would have more detailed talks. Meanwhile, the Governor of the South African Central Bank discounted the impact on the country in view of South Africa’s trade exposure with the EU, Japan, BRICS, and ASEAN countries.
Read Also:
https://trendsnafrica.com/south-africa-still-trying-to-negotiate-a-trade-deal-with-u-s/
South Africa failed to secure a trade deal with Washington ahead of Trump’s deadline despite months of negotiations. Analysts opine that SA can tap into its BRICs alliance to help offset the full impact of U.S. tariffs.
