US has not confirmed final decision on 30% trade tariffs – Parks Tau, Trade Minister

702’s Bongani Bingwa speaks with Parks Tau, Minister of Trade, Industry and Competition.

Listen below:

A 30% tariff on exports to the United States is hanging over South Africa, putting several businesses at risk.

The government is waiting for feedback from the US on the final status of its framework deal.

US President Donald Trump’s administration has struck deals with the EU and Japan in the past week, slashing tariffs to 15% after threats of 25% or 30%.

However, Minister Tau says no new deal has been reached with the US.

He adds that US representatives on Wednesday said they could not confirm what the final decision would be.

Tau believes that the tariff threats are more than just a trade issue as there are significant political tensions between the two countries.

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“I’m not naïve to suggest that those other issues might not impact South Africa.” 

- Parks Tau, Minister of Trade, Industry and Competition

The minister says South Africa is exploring other markets to find alternatives to trade with the US.

Scroll up to the audio player for more.