South Africans have expressed concern over the impact of U.S. tariffs on the nation's economy, calling for accelerated efforts to diversify foreign trade partnerships and reduce reliance on any single market.
The economic challenges come after U.S. President Donald Trump announced a 30 percent tariff hike on goods imported from South Africa starting August 1. These measures are expected to particularly affect South Africa's crucial agricultural and manufacturing sectors, posing significant challenges to the country's export-oriented industries.
South Africa's National Agricultural Marketing Council has warned that up to 25,000 jobs in the agricultural sector are at risk due to recent U.S. trade restrictions. The council called on the government to accelerate efforts to diversify export markets and reduce reliance on any single trading partner.
"So that the biggest issue now, the missed important thing for now is to make sure that whatever that we have been exporting particularly to the U.S., gets to be diversified to other regions," said Thabile Nkunjana, economist and a member of the National Agricultural Marketing Council.
In addition, many South African college students believe that tariffs have aggravated the cost of living and worsened the unemployment rate, and they are worried about this.
"Unemployment is already a huge issue in this country and therefore businesses closing down is going to create more issues and increase the unemployment rates. So definitely I think tariffs being increased is going to create a lot of problems for south African citizens," said Ariana Gay, a college student.
South Africans call for diversified foreign trade to offset US tariff impact
South Africans call for diversified foreign trade to offset US tariff impact
South Africans call for diversified foreign trade to offset US tariff impact
