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According to trade union Solidarity, SA can still escape the pain that the US’s 30% trade tariff will bring upon its economy, provided President Cyril Ramaphosa takes urgent action.
“There is still room for negotiation until 1 August, but the problem is that our government and Ramaphosa are always dragging their feet on this. The Americans wanted to negotiate, so the situation could still be resolved. However, one must consider that America is also seeking a political settlement with South Africa and not just an economic settlement,” said Jaco Kleynhans, head of public relations at Solidarity. According to Theuns du Buisson, economic researcher at the Solidarity Research Institute (SRI), it is telling that other countries were able to successfully negotiate to escape similar tariffs while SA is subjected to them. “If we want to maintain any competitive advantage, this must be urgently rectified. Cyril Ramaphosa must engage with the Trump administration to get out of the 30% tariff. If this tariff is applied to everything, it would also be the de facto termination of the AGOA trade agreement. Solidarity has worked hard and held many discussions over the past few years to keep South Africa part of AGOA. To see it come to nothing is sad,” Du Buisson commented.
- Read Solidarity’s press statement in the above regard in full at Politicsweb
- Lees ook, Trump-tariewe gaan oor ‘politiek, nie ekonomie’, by Maroela Media
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