South Africa steps up efforts to diversify export markets

South Africa’s Minister of Trade, Industry and Competition, Parks Tau, says the need to diversify the country’s export markets has never been more urgent. This comes after the United States imposed a 30-percent unilateral tariff, a move that could significantly impact South Africa’s economy.

Tau said the government has initiated a multi-pronged response to soften the blow of the tariff and is speeding up efforts to expand trade with other international markets. He emphasised the importance of reducing reliance on a single export destination and building stronger trade relationships globally.

Meanwhile, Agriculture Minister John Steenhuisen says that South Africa’s trade with the United States is mutually beneficial and the U.S. gets a good deal from South Africa’s agriculture exports. He says many South African products are counter-seasonal and pose no threat to US production.