South African economists are urging enhanced global cooperation, stressing the urgent need to counter American trade policies that have severely disrupted exports and could exacerbate job losses in an already struggling economy.

Cape Town

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

Global Tariffs

South Africa's economic outlook has been negatively affected by the recent introduction of a 30 percent tariff on its exports to the United States, its second largest trading partner. The new tariffs have led to reduced growth forecasts for the current and following year, with particular concern for the automotive and agricultural sectors, which are expected to face job losses due to the country's high unemployment rate.

In response, South African economists are advocating for stronger international cooperation, especially with countries outside the US. The government is also looking to China, which accounts for a significant portion of South Africa's exports, to help offset the adverse effects of the US tariffs. The situation highlights the broader context of international competition and the use of trade policy as a strategic tool.

South Africa looks to enhance global cooperation in face of tariffs

Barely two weeks into the new U.S. tariff regime and South Africa's economic outlook has taken a hit. Facing tariffs of 30 percent from its second largest trade partner, the growth forecast for this year and next have both been reduced. These tariffs will have a severe impact on South African exports, especially vehicle exports and also on agricultural exports. And unfortunately, people will lose their jobs that will not easily get new employment because of the huge unemployment problem we have in South Africa. Now the country's economists are urging stronger ties with the rest of the world. Up to two-thirds of South Africa's export basket is comprised of mining sector output as well as manufacturing items and most notably automotive products. So these are directly in the crosshairs given the very substantial 30 percent tariff. America is deeply concerned that it, as an empire, is in decline and it wants to arrest its decline but at the same time stymie the ascendancy of other nations. It's about international competition and where there is a weaponization of trade and industrial policy. If we are locked out of the United States, we will continue to work to enhancing relationships with let's call it the global north excluding the United States and the global south. South Africa is also hoping that China, which accounts for 20 percent of its exports, will help cushion the blow from the U.S. tariffs. For more UN videos visit www.un.org

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Ukraine Invasion

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South Africa looks to enhance global cooperation in face of tariffs

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