US Tariffs May Spur South Africa’s Shift to BRICS Markets, Says Expert
US Tariffs May Spur South Africa’s Shift to BRICS Markets, Says Expert
The tariffs could raise prices for American consumers and reduce demand for key South African exports like minerals and agriculture, warned Zwelethu Jolobe, Associate Professor of Political Science at the University of Cape Town.
The tariffs would make these products "uncompetitive," potentially shrinking their US market share, Jolobe told Sputnik Africa.
While noting that short-term job losses in agriculture and mining are likely, he warned against overstating the importance of exports to the US. The expert cited "unpredictable" relations, stressing that it is "not the only" export destination.
"I think that the alternative is to look for new markets, number one, and number two, it is to find a lot more opportunities within the existing markets in BRICS," Prof. Jolobe said.
◻On reduced USAID funding and export earnings, Jolobe argued South Africa could run social programs more efficiently at lower costs, mitigating revenue impacts.
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