Ramaphosa hints at tariff reform as Trump shadow looms over SA trade

President Cyril Ramaphosa said trade fragmentation in the global economy was receiving the government’s attention, as the country sought to strengthen its economy. Ramaphosa was delivering his ninth state of the nation address in Cape Town before a joint sitting of parliament on Thursday evening. No other president in the democratic era has achieved nine Sonas.

The speech came as the country faces unprecedented trade tensions with the US. Last year, US President Donald Trump introduced unilateral tariffs on imports from South Africa and peddled misinformation about a white genocide in South Africa. Ramaphosa said, amid the turmoil in the global economy, that South Africa would support established industries in the face of strong headwinds.

“We have moved to revive our ferrochrome industry and to protect jobs in our steel, automotive and other sectors which employ hundreds of thousands of South Africans in good quality jobs. “We are working with businesses and workers to close loopholes in our tariff structure and develop additional measures to protect and grow our manufacturing base.” He said as South Africa protects jobs in vulnerable industries, the government would remain focused on sectors that will drive future growth. “We know we can create millions of quality jobs in sectors like agriculture, mining, services and the green economy.” Ramaphosa hinted that finance minister Enoch Godongwana would present fiscal interventions to respond to malnutrition challenges in the country during his medium-term budget policy statement.