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The US president said reciprocal tariffs are ‘for countries that treat us badly’.
US President Donald Trump revealed a revised tariffs chart on Wednesday(AFP)
US President Donald Trump’s shocking 30% tariffs on South African goods to the United States are a barrier to trade and shared prosperity, the Presidency says.
Trump slapped a universal 10% baseline tariff on all imports into the US and additional reciprocal tariffs for several other countries, including 30% for South Africa.
The US president said reciprocal tariffs “for countries that treat us badly” were calculated by first adding together the tariff rates and any non-cash trade barriers – like currency manipulation – and then cutting that total in half.
According to Trump’s chart, South Africa is shown as being charged 60% and 30% tariffs.
“They have got some bad things going on in South Africa. You know, we are paying them billions of dollars, and we cut the funding because a lot of bad things are happening in South Africa. They don’t want to report it,” Trump said before continuing to name other countries.
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President Cyril Ramaphosa’s spokesperson Vincent Magwenya said they have noted with concern the newly imposed tariffs on South African exports to the US.
“While South Africa remains committed to a mutually beneficial trade relationship with the United States, unilaterally imposed and punitive tariffs are a concern and serve as a barrier to trade and shared prosperity.
“The tariffs affirm the urgency to negotiate a new bilateral and mutually beneficial trade agreement with the US as an essential step to secure long-term trade certainty,” Magwenya said.
Trump has ignited a potentially ruinous global trade war with the imposed tariffs on imports from around the world and harsh extra levies on key trading partners.
The announcement triggered immediate anger, with China warning the tariffs could “endanger” global economic development. US ally Australia also blasted the country’s actions as “not the act of a friend”, while threats of retaliation have come from around the world.
China has threatened to take resolute countermeasures in response to Trump’s tariffs, urging the US to revoke unilateral measures and resolve differences through dialogue.
China currently levies about 67% of tariffs charged to the US, while the US’s reciprocal tariff is 34%.
Trump brushed off fears of turmoil, insisting that the tariffs would restore the US economy to its lost “golden age”.
“For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike,” Trump said.
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