Trade Minister Parks Tau said the US’s 30% tariff on exports has necessitated a balanced response between renegotiation, trade diversification and protection from an import surge
The government is relieved by the reduction in the tariffs from the threatened 50% to 15%
Missed diversification opportunities cost the country as US tariffs expose trade blunders, risking jobs, stability and billions in exports
While the government negotiates a mutually beneficial deal with the US, it says it is making plans to diversify its export marke
The president said a support package was being finalised for firms that will be affected by the tariffs
But he secured tentative trade talks as negotiations with officials on a pact between South Africa and the US were set to continue