PRETORIA - Former US President Donald Trump’s trade tariffs have yet to take effect, but South Africa’s automotive sector is already feeling the pressure.
Naamsa, the Automotive Business Council, reports that vehicle exports to the United States dropped by 73% in the first quarter of the year.
This was followed by further steep declines of 80% in April and 85% in May.
The United States is South Africa’s second-largest trading partner and a key export destination for locally manufactured vehicles.
- Naamsa’s chief economist, Dr Paulina Mamogobo unpacks more details with eNCA.