https://en.sputniknews.africa/20251007/south-african-president-announces-plans-to-diversify-countrys-trading-partners--1079165192.html
South African President Announces Plans to Diversify Country's Trading Partners
South African President Announces Plans to Diversify Country's Trading Partners
Sputnik Africa
South African President Announces Plans to Diversify Country's Trading Partners 07.10.2025, Sputnik Africa
2025-10-07T08:27+0200
2025-10-07T08:27+0200
2025-10-07T08:27+0200
sub-saharan africa
international
cyril ramaphosa
united states (us)
south africa
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southern africa
economy
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South African President Announces Plans to Diversify Country's Trading Partners He added that this measure will include an emergency industrial support package for sectors affected by the tariff hikes. The US imposed a 30% tariff on South African imports starting August 7. Ramaphosa vowed to continue diplomatic efforts to secure balanced trade relations with the US. Additionally, the African Growth and Opportunity Act, which allowed South African countries to export goods to the US on preferential terms, expired on September 30.
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international, cyril ramaphosa, united states (us), south africa, brics, southern africa, economy
international, cyril ramaphosa, united states (us), south africa, brics, southern africa, economy
South African President Announces Plans to Diversify Country's Trading Partners
South African President Announces Plans to Diversify Country's Trading Partners
"The ninth intervention is to accelerate the diversification of our trade partners to strengthen our participation in the African Continental Free Trade Area and address the impact of tariff and non-tariff barriers," Cyrill Ramaphosa said while unveiling the economic action plan.
He added that this measure will include an emergency industrial support package for sectors affected by the tariff hikes.
"We will expand exports under the African Continental Free Trade Area, as well as exports to BRICS countries and indeed to other markets where we will be paying visits in due course," Ramaphosa noted.
The US imposed a 30% tariff on South African imports starting August 7. Ramaphosa vowed to continue diplomatic efforts to secure balanced trade relations with the US. Additionally, the African Growth and Opportunity Act, which allowed South African countries to export goods to the US on preferential terms, expired on September 30.
