Speaking at a media briefing in Johannesburg, International Relations and Cooperation Minister Ronald Lamola and Trade, Industry, and Competition Minister Parks Tau said that no agreement had yet been reached, despite South Africa submitting its trade framework proposal in May.
"South Africa seeks to conclude deals that promote value addition and industrialisation, rather than extractive relations that deprive the country of the ability to beneficiate our mineral wealth by mimicking extractive colonial era trade relations," Lamola said, noting that geopolitical tensions have complicated negotiations with the United States.
Lamola warned that the proposed tariff could reduce South Africa's gross domestic product by 0.2 percentage points. The United States is South Africa's third-largest trading partner, making up 7.5 percent of total trade, with agricultural exports most vulnerable to the looming tariff.
"South African exports do not compete with U.S. producers and do not pose a threat to the U.S. industry. On the contrary, our exports are crucial inputs that support America's industrial base," Lamola said, adding that agricultural goods from South Africa to the United States are seasonal and are not "replacing" U.S. agricultural products.
He also highlighted South Africa's efforts to diversify its export markets, particularly in agriculture. Local producers have started exporting lemons, avocados, and apples to China following the signing of bilateral protocol agreements. Similar efforts are underway to expand access to markets across Asia, Europe, the Middle East, and Africa.
Xinhua
Source : https://en.igihe.com/news/article/south-africa-pushes-for-resolution-on-looming-u-s-trade-tariffs
