By Rachel Mohamed
Recent reports indicate that South Africa has missed the August 1 deadline to negotiate a trade deal with the United States. This situation arises after President Donald Trump’s executive order, which adjusted tariffs for several countries, including a new 30% tariff on South Africa scheduled to take effect this week. Economists have warned that these US tariffs on exports could severely impact South Africa’s already strained economy.
In a discussion on VOC News, Professor Patrick Bond, a political economist and professor of sociology at the University of Johannesburg, explained that President Trump and Treasury Secretary Scott Bessent, two key figures in these negotiations, set a timeline of 90 days for discussions.
“Ironically, we receive an exemption on raw materials, except for iron ore and agriculture products. Most of our minerals are granted zero tariffs, but steel and aluminum face a 50% tariff, and cars were hit with 25%, both in February. There are many other countries in the same situation, but 15% is what our neighbors are hit with. And Brazil, for instance, is facing 50%.”
Listen to the full interview:
VOC News
Photo: Pixabay
