Trump's tariffs put 100 000 jobs at risk in South Africa, Kganyago says
US President Donald Trump's tariffs on South Africa could cause around 100 000 job losses, with the agriculture and automotive sectors hardest-hit, central bank governor Lesetja Kganyago said on Wednesday.
Kganyago told local radio station 702 that the impact of the 30% tariff, which Africa's biggest economy faces from August 1, could cause significant damage to specific industries.
"The impact in agriculture could actually be quite devastating because agriculture employs a lot of low-skilled workers, and here the impact is on citrus fruit, table grapes and wines," Kganyago said.
He said statistics showing South African car exports to the United States slumped more than 80% in the wake of import tariffs imposed on cars by the Trump administration in April were very concerning.
"If we do not find alternative measures the impact on jobs could be around 100 000, so that is what we actually face," the governor said.
South Africa already has one of the highest unemployment rates in the world, with the official rate sitting at 32.9% in the first quarter of this year and an expanded definition at 43.1%.
Farmer groups have also warned of the adverse impact of the tariffs on producers of citrus, macadamia nuts, grapes, wine, fruit juices and ostrich leather.
In the citrus sector alone the tariffs have put 35 000 jobs in jeopardy and threaten to devastate towns such as Citrusdal in the Western Cape that are heavily dependent on exports to the US.
Comments
Projects
Latest Multimedia
Latest News
Showroom
SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...
VISIT SHOWROOM
BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
