South Africa braces for US tariff shock

South Africa should prepare for the impact of hiked US tariffs while diversifying trade to minimize risks, industry stakeholders say.

The United States announced on Monday that it will impose a 30 percent tariff on South African goods, effective Aug 1. In response, Vincent Magwenya, spokesman for President Cyril Ramaphosa, called the rate "not an accurate representation of available trade data".

"South Africa will continue with its diplomatic efforts toward a more balanced and mutually beneficial trade relationship with the United States," he said.