Western Cape provincial trade, investment and tourism promotion agency Wesgro has assured that it is committed to assisting the province’s exporters in the face of the new tariffs imposed on South Africa by the administration of President Donald Trump. The US now levied tariffs of 30% on South African goods exported to that country.
The US was the second-biggest export market for the Western Cape, pointed out Wesgro. It accounted for 8% of the province’s exports, with a total value of R16.2-billion, last year. Western Cape exports to the US included (in alphabetical order) citrus, flat-rolled iron (and related products), fruit juices, space components, vehicle components and wine.
“[W]e want to ensure our stakeholders are well-supported in adapting to [the] new tariffs,” stated Wesgro. “Our focus is to ensure that businesses can navigate these challenges with confidence and support.”
Trump’s imposition of tariffs (the minimum level being 10%) on all countries around the world has triggered retaliatory tariffs against the US by other major trading economies. If sustained, these tariffs and counter-tariffs could significantly reshape global trade.
“The ongoing adjustments to international tariffs and trade regulations present both hurdles and opportunities for exporters around the world,” noted Wesgro. “In light of these complexities, it is more important than ever for businesses to feel empowered and equipped in uncertainty.”
To this end, Wesgro has created an online information resource to assist exporters. This was the “FAQ: Navigating United States Tariffs” webpage.
This resource covered three major export-related issues. These were – comprehending how the “reciprocal tariffs” (as the US called them) would be implemented; comprehending how these new rates would affect the tariffs paid by goods exported by a company to the US; and, comprehending what goods and situations were exempted from the new US tariffs.
“Wesgro will continue to generate tariff guidance and resources over the coming weeks,” it assured. “We will provide clear, updated resources on current tariff structures, including detailed explanations of applicable rates, and exemptions.” 