Print this page

AFRICA’S LARGEST ECONOMY HIT BY FRESH US TARIFF

 

In the wake of fresh imposition of tariffs hike on South Africa by President Donald Trump of US, South African economy which had witnessed growth in recent times, will be hit hard.

 

Recent growth in the mining and rebound in manufacturing may take downward turn. South African economy grew for a third consecutive quarter at about 0.3-0.4% and had shown signs of not going down.

 

But recently imposed tariffs may see such positive developments taking a downward turn as the agricultural and manufacturing sector will be mostly hit by the development.

 

President Trumps had imposed fresh tariffs on trading partners which also affected South African exports, with a 30% levy on all South African exports, this is relatively high by any standard.

This of course has the potential of raising the unemployment rates to the highest levels.

 

Already hampered with one of the highest unemployment rates in the world and world's slowest growth rate the 30% levy can be seriously devastating.

This could jeopardize about 30000 jobs in the automotive and the agricultural sector.

South Africa had had to turn their attention to China as a direct response to ameliorate the impact of US tariffs war on the country's economy.


A number of bilateral agreements are now being signed between the two countries towards the effect of bringing in Chinese trade.

Published in Business
Last modified on Sunday, 17 August 2025 05:48
Rate this item
(0 votes)
Kayode Olorundare

Governor Aiyedatiwa of itOndo is expected to be declared as the winner of the 2024 gubernatorial election in Ondo. In the ruling expected on Wednesday the tribunal' judgment is being expected.

This email address is being protected from spambots. You need JavaScript enabled to view it.