What's behind the US's antagonism against South Africa?
South Africa has rejected a recent report by the United States on its human rights record. It's not the first time the country finds itself in the firing line of the US. What's behind it?
The 30% tariffs slapped on the agricultural and automotive sectors among others, by the US, are scheduled to come into effect on Friday.
Minister in the Presidency Khumbudzo Ntshavheni, briefing the media in Pretoria on Thursday, outlines the various interventions, which include the establishment of an export support desk to assist affected companies in absorbing the tariffs and facilitating resilience and growth strategies.
“A localization support fund for affected companies to contribute to the national effort, and the export and competitiveness support programme, which will include a working capital facility and plant and equipment facility to address short- to medium-term needs across all industries,” says Ntshavheni.
The Minister adds that after consultations with the Competition Commission, a block exemption for exporters has been introduced to enable collaboration and coordination by competitors, adding that a draft block exemption will be published by the end of this week so that the process can be concluded expeditiously.
Ramaphosa, Trump speak in efforts to resolve tensions over the 30% tariff on SA exports:
Minister Ntshavheni reveals that Cabinet has received a framework deal aimed at mitigating the impact of the tariff.
The agreement includes a provision for the tariff to be reviewed once both countries reach a broader trade settlement.
The US levy, which will come into effect at midnight, has sparked concern across South Africa's export industries -particularly agriculture and automotive manufacturing.
Ntshavheni has emphasized that Cabinet remains committed to protecting jobs and supporting affected industries while continuing negotiations with the US to secure a fair and sustainable trade agreement.
