South Africa Presents No Threat to US Economy
(MENAFN) South Africa has dismissed suggestions that it presents any commercial risk to the United States’ economy or national interests, stating that Washington’s assertions about a “trade deficit” fail to account for American advantages in services and the broader investment relationship between the two nations.
U.S. President Donald Trump enforced a 30% levy on South African exports as part of broader worldwide tariffs aimed at products from several countries.
These fresh tariffs are expected to come into force on Friday.
Pretoria had aimed to secure a “fair” commercial arrangement before the initial August 1 cut-off, following bargaining efforts disclosed by its Department of Trade, Industry and Competition in June.
Nevertheless, through an executive directive issued last Thursday, Trump opted to keep tariffs on South African goods intact, despite reducing duties on certain regional peers, such as Lesotho and Zimbabwe.
He explained that although some partners had entered discussions, their proposals were either insufficient to resolve trade imbalances or failed to comply with U.S. financial and national defense objectives.
“South African exports do not compete with US producers and do not pose a threat to US industry,” Africa’s top economy stated through a unified release from its trade and foreign affairs ministries on Monday.
They further stressed that “the calculation of US-SA ‘trade deficit’ ignores the substantial US trade surplus in services,” emphasizing the broader economic gains the United States enjoys from the relationship.
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