South Africa has taken a crucial step in avoiding looming US tariffs by signing a preliminary trade framework with the US Trade Representative’s office. Although it is not yet a binding agreement, the document outlines conditions that must be met before a deal is finalized between the two countries. The move comes as President Trump’s threatened 30% tariff hike on South African exports to the US is set to begin on August 1. The tariffs are the US’s attempt to address alleged trade imbalances and market barriers. Meanwhile, concerns are mounting in South Africa over the looming tariffs, with Finance Minister Enoch Godongwana warning they could cost the country 100,000 jobs. Vehicle exports have already plummeted due to earlier US duties, dropping over 80% in recent months.
IOL
