By Thebe Mabanga and Simon Nare
South Africa is taking proactive steps to protect the country’s economy by granting block exemptions to exporters in response to looming US tariff hikes.
This strategic move aims to cushion the blow of proposed unilateral 30% tariffs set to take effect just after midnight on Friday.
Additionally, the government is rolling out a comprehensive working capital and finance facility.
This initiative is designed to assist businesses in covering the escalated costs triggered by the impending tariffs.
These details emerged during a joint press briefing by International Relations Minister Ronald Lamola and Trade and Industry Minister Parks Tau on South Africa’s response to the US tariffs.
Last Thursday, United States President Donald Trump announced that a 30% tariff will go ahead as first announced on “Liberation Day” back in April and initially paused for 90-day period, until last week.
Lamola, Tau and President Cyril
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