South Africa is racing to negotiate with the United States during a one-week delay in the implementation of new 30-percent tariffs on exports, President Cyril Ramaphosa announced. Originally set to take effect on August 1, the tariffs were postponed until August 7, giving South Africa a short window to find a resolution and protect its economy.
President Ramaphosa emphasized that the country is engaging in “intensive negotiations” with the US, aiming to prevent significant job losses, especially in the agriculture and automotive sectors. Central Bank Governor Lesetja Kganyago warned the tariffs could cost the South African economy about 100,000 jobs, compounding an already high unemployment rate of over 30 percent.
As part of its strategy, Pretoria is not only negotiating to stop the tariffs but also working to diversify its export markets. South Africa has offered to import US liquefied natural gas and agricultural products, while local companies have pledged to invest in US mining and metal-recycling industries. Joint investment opportunities in critical minerals, pharmaceuticals, and agricultural machinery are also being explored.
