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South Africa Urged to Maximize Africa-BRICS Trade Amid US Tariff Threat
South Africa Urged to Maximize Africa-BRICS Trade Amid US Tariff Threat
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South Africa Urged to Maximize Africa-BRICS Trade Amid US Tariff Threat 07.08.2025, Sputnik Africa
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South Africa Urged to Maximize Africa-BRICS Trade Amid US Tariff ThreatThe African Continental Free Trade Area (AfCFTA) and BRICS share a unified vision: reducing dependence on Western markets to avoid "economic manipulation" through "loan conditions" or "punitive tariffs," Professor Ronney Ncwadi of Nelson Mandela University told Sputnik Africa.He stressed that trade within the Global South, supported by BRICS’ New Development Bank, could fund critical infrastructure and cross-border payment systems using local currencies instead of the US dollar.
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South Africa Urged to Maximize Africa-BRICS Trade Amid US Tariff Threat
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South Africa Urged to Maximize Africa-BRICS Trade Amid US Tariff Threat
2025-08-07T07:42+0200
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South Africa Urged to Maximize Africa-BRICS Trade Amid US Tariff Threat
07:42 07.08.2025 (Updated: 08:13 07.08.2025) South Africa Urged to Maximize Africa-BRICS Trade Amid US Tariff Threat
The African Continental Free Trade Area (AfCFTA) and BRICS share a unified vision: reducing dependence on Western markets to avoid "economic manipulation" through "loan conditions" or "punitive tariffs," Professor Ronney Ncwadi of Nelson Mandela University told Sputnik Africa.
"[AfCFTA and BRICS] are looking at economic self-determination, where we have a regional integration," Prof. Ncwadi argued, calling on Pretoria to aggressively diversify exports toward these markets.
He stressed that trade within the Global South, supported by BRICS’ New Development Bank, could fund critical infrastructure and cross-border payment systems using local currencies instead of the US dollar.
"I think [this will] really take the power away from the US to manipulate African countries," Ncwadi stated, endorsing South African President Cyril Ramaphosa's recent push for export diversification.
