Minister Tau says SA diversifying and looking elsewhere to mitigate US trade tariffs
He said the tariffs imposed by the Donald Trump administration have already impacted the auto industry, with a 25% tariff on automobiles and parts coming into effect in April and May, respectively.
In written Parliamentary replies to questions from Members of Parliament (MPs), Tau said the diversification would focus on countries that South Africa has trade agreements with, including some in South America.
Tau said, while the US remains an important trading partner for South Africa, it accounted for just 7% of South African trade in 2024.
He said around 40% of South Africa's trade is with Asian countries, 25% with European countries and 20% with other African nations.
Tau said in February this year, the us 'imposed section 232 tariffs of 25% on steel and aluminium on the basis that imports of these products threaten US national security'.
He said government is now determined to strengthen partnerships in Africa to address business challenges and create a favourable environment for conducting business.
According to Tau, the diversification focuses on countries that South Africa has trade agreements in place, including the Southern African Development Community (SADC), African Continental Free Trade Area and the European Economic Partnership Agreement.
The country also has a preferential trade agreement with the South American trade bloc comprising Brazil, Argentina, Paraguay and Uruguay.
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