How Trump's 30% tariff hike on all SA imports will hit the country

JOHANNESBURG - United States (US) President Donald Trump has issued letters to various countries, saying the new trade tariffs will be effected on the first of August. 

In South Africa's case, the move has been stated to be intended to address trade deficits and non-tariff policies the country enjoys through the African Growth and Opportunity Act. 

READ | South Africa to seek trade deal after Trump tariffs

The African Growth and Opportunity Act (AGOA) is a vehicle to help sub-Saharan African economies enhance trade relations with the US. 

It affords eligible countries duty-free access to the lucrative US market. 

President Cyril Ramaphosa says South Africa disputes the US interpretation of the balance of trade between the two countries.

The CEO of Business Leadership South Africa Busisiwe Mavuso emphasised that these tariffs will hit the country hard.

You May Also Like