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President Cyril Ramaphosa announced on Monday that South Africa will actively pursue new trade markets in Africa and Asia.
This move comes as the country faces looming 30% tariffs from the United States, its second-largest trading partner.
The new U.S. tariffs, set to take effect this week, are the highest in sub-Saharan Africa.
Government officials have warned they could put as many as 100,000 jobs at risk in a country where unemployment is already over 30%.
Ramaphosa emphasised that his government’s top priority is to protect the country’s export industries.
While South Africa will continue to negotiate with Washington to maintain market access, Ramaphosa stated the country must also “accelerate the diversification of our export markets.”
The government has already established a support desk to help exporters find new markets and is pushing forward with a free-trade area for the African continent.
The tariffs are expected to hit the South African agriculture, automotive, and textiles sectors particularly hard.
Pretoria has argued that its exports in these areas do not compete with but rather support U.S. industries. This trade dispute is occurring amidst deteriorating diplomatic relations between the two countries.
