Considering that South Africa’s tariff average was 7.5%, US tariffs should be around 3.75%, not 30%.
But slower global economic growth could affect demand and prices in the short term, says the Minerals Council South Africa.
History says trade wars are easy to start but hard to win, and the early signs of strain are already visible across markets and boardrooms.
AfriForum claims it’s the party’s policies which have led to the deterioration of the country’s relationship with the US.
As carriers brace for continued volatility, shippers may find temporary relief from lower costs.
Authorities should argue for lower import tariffs and removal of phytosanitary constraints on various products in China.
Coal will not be subject to the new tariffs as it is an important part of Trump’s anti-decarbonisation drive.
Canada announced retaliatory tariffs on US goods, including a 25% surtax on various products, including fruit.
Of the goods worth R153 billion that South Africa exported to the US in 2024, about half were minerals.
Now facing 54% tariffs on exports to the US, China vowed countermeasures, as did the European Union.
Higher import duties will affect the livelihoods of businesses and households across the country.
The country is concerned about the new tariff regime on its exports to the world’s biggest economy.
