President Ramaphosa Pledges Comprehensive Government Support for South African Exporters Impacted by 30% Tariff Increase Imposed by the United States. Image Credit: X @AthiGeleba
(The Post News)- President Cyril Ramaphosa has pledged government support for industries affected by a 30% tariff hike imposed by the UnitedStatesofAmerica (U.S.) government on South African exports.
Ramaphosa stated that assistance will be provided through a comprehensive support package consisting of several targeted initiatives.
The new tariff is set to be enforced within seven days.
Despite the tariff increase, existing exemptions under a previous U.S. executive order will remain in place. These exemptions apply to products such as copper, pharmaceuticals, semiconductors, lumber, key minerals, stainless steel scrap, and various energy-related goods.
President Ramaphosa reiterated South Africa’s willingness to engage diplomatically with the United States, emphasizing the importance of protecting national interests.
“South Africa is committed to diplomatic engagement with the United States to defend its national interests. Communication lines remain open, and our negotiation team stands ready to engage as soon as the U.S. invites dialogue.
Keeping our people employed and maintaining the production of our high-quality goods for global markets is essential. To achieve this, the government will intensify its efforts to diversify the economy and build resilience.
We are working closely with export councils, industry associations, and top exporters to the U.S. to help explore and secure alternative markets,” Ramaphosa said.
He also announced the launch of an export support initiative that will provide updates, guidance, and solutions for exporters impacted by the tariff hike.
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