Trump announces 30% tariffs on EU, Mexico
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South Africa's President Cyril Ramaphosa has opposed what he calls the "unilateral" higher trade tariffs imposed on his country by the US. US President Donald Trump announced on Monday that he would subject imports from South Africa to a new 30% tariff from 1 August.
With Agoa ending soon, African nations may have to face the Trump administration alone when tariffs hit on August 1.
South Africa scrambles for response following the US’ announcement of a sweeping 30 percent tariff on the country’s exports effective 1 August.
When Limpho Lefalatsa first learned she had lost her job at a Lesotho garment factory after 12 years due to U.S. President Donald Trump's decision to hit her tiny African homeland with a crippling tariff on its exports,
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Explícame on MSNCountries respond to Trump's new tariffs, chaos arisesPresident Donald Trump has initiated a new phase in his global trade strategy, notifying 14 nations of impending tariffs ranging from 25% to 40%. This move aims to address U.S. trade deficits and policies that hinder American goods abroad.
Trump and his aides have repeatedly shifted their stance on tariffs since the president’s “Liberation Day” announcement.
The White House hosted an “African leaders” summit of sorts this week. But only five countries from the continent of more than 50 nations were welcome to join.
The letter reiterated Trump’s complaints about dairy quotas, fentanyl and the U.S. trade deficit, which is mostly fueled by American refineries’ thirst for Canadian oil. His social media post caused the Canadian dollar to immediately tumble, indicating the market wasn’t expecting this escalation.
South Africa sees this as an opening to reach a mutually beneficial agreement, preventing the escalation of trade tensions that could impact jobs, investment, and export-oriented industries in both countries.
South Africa has asked for more time to negotiate a trade deal with U.S. President Donald Trump's administration before his higher tariff regime goes into effect on July 9, Pretoria's trade ministry said on Tuesday.
Countries including South Korea, Japan and South Africa have issued their latest reactions in response to US President Donald Trump's announcement of imposing tariffs on imports from multiple countries starting August 1.