IN AN EFFORT TO ADDRESS THE US TRADE DEFICIT, PROMOTE DIGITAL TRADE, ENHANCE INVESTMENT OPPORTUNITIES, AND ELIMINATE NON-TARIFF BARRIERS, THE SOUTH AFRICAN GOVERNMENT HAS SAID A COMPREHENSIVE FRAMEWORK DEAL PROMOTING ON DIGITAL TRADE, ENHANCING INVESTMENT OPPORTUNITIES, AND ELIMINATING NON-TARIFF BARRIERS HAS BEEN SUBMITTED.
DURING A MEDIA BRIEFING TODAY, THE MINISTER OF INTERNATIONAL RELATIONS AND COOPERATION RONALD LAMOLA WHILE OUTLINING THE FEDERAL GOVERNMENT’S PLAN TO TACKLE THE LOOMING US TARIFFS SAID SINCE THE ONSET OF THE 7TH ADMINISTRATION, SOUTH AFRICA HAS DILIGENTLY AIMED AT STABILISING AND ELEVATING ITS MUTUALLY BENEFICIAL TRADE AND INVESTMENT RELATIONSHIPS WITH THE UNITED STATES. ACCORDING TO HIM, RECENT DEVELOPMENTS SUGGEST THAT DESPITE ONGOING NEGOTIATIONS AND STRATEGIC FRAMEWORKS PROPOSED BY SOUTH AFRICA, THE US HAS DECIDED TO IMPLEMENT A 30% UNILATERAL TARIFF ON SOUTH AFRICAN IMPORTS, A SIGNIFICANT MOVE THAT THREATENS TO DESTABILISE THESE VITAL ECONOMIC EXCHANGES.
