By Black Star News
Photos: YouTube\Wikimedia Commons
South Africa is introducing plans to assist businesses that will be hurt by the 30 percent tariffs Trump placed on the country, that will be taking effect Friday.
The South African government says Trump’s tariffs could cost tens of thousands of job, (some say 30,000) particularly, in the industries of agriculture and car manufacturing.
The government is said to be working on a support program with a plant and equipment facility and working capital facility. An Export Support Desk has been implemented to assist exporters and manufacturers to search for alternate markets for their products.
Measures, related to the Unemployment Insurance Fund, are also being looked at to soften the impact of job losses.
The prospect of tariff-related job losses is troubling since South Africa already has an unemployment crisis, with an official unemployment rate, for the first quarter of 2025, listed at 32.9 percent. The youth unemployment, for the same period, stand at 46.1 percent.
Some business groups and leaders are calling for the implementation of a special trade crisis committee.
The Business Leadership South Africa group warns of the threats Trump’s tariffs will cause in South Africa. In a statement they said, “U.S. tariffs pose a severe threat to South Africa’s manufacturing and farming sectors. … While businesses can eventually adapt, urgent temporary support is essential.”
To Support our independent investigative journalism contributions are welcome via Cashapp to: $BlackStarNews
Also support Black Star News by buying merch from our brand new Black Star Store!
