S. African businesses call for diversifying economy

South Africa needs to diversify its economy, boost domestic consumption and increase collaboration with potential trade partners to cope with the high tariffs imposed by the United States, observers said, while calling for more efforts to protect the "rules-based trading system".

Alan Mukoki, CEO of the South African Chamber of Commerce and Industry, said the government and businesses in South Africa are concerned with the US tariff policies and urged the authorities to take measures to cope with it.

The US slapped a 31 percent tariff on South African goods on April 2. One week later, US President Donald Trump said that he was pausing tariffs above 10 percent for most US trading partners.