US – The United States of America has hit South Africa, Libya and Algeria with a 30 percent tariff to goods exported to the US while many African countries tariffs were set at 15 percent.
South Africa President Cyril Ramaphosa reacted to the new tariff regime saying they will continue to negotiate with the US President Donald Trump.
”We remain engaged with the U.S. in trade negotiations and government will be providing support to companies affected by current tariffs. Our approach to these negotiations is one of mutual respect and benefit,” Ramaphosa said.
Ramaphosa said South African companies must diversify and seek other markets than to focus on the US only.
”It is too risky to focus on one market,” he said.
”We need to seek out many many markets. There are so many countries that want to deal with us.”
Ramaphosa said South Africa is not the only country dealing with the unilateral tariff increase by the US.
Zimbabwe,Botswana ,Nigeria and many other African countries export tariffs are at 15 percent.