Trump says there could be distribution of money from tariff revenues
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TimesLIVE
26 minutes ago
- TimesLIVE
Lesotho textiles to struggle even with lower 15% Trump tariff, says minister
Lesotho's modified tariff rate of 15% may still not be enough to save its textiles industry, its trade minister Mokhethi Shelile said on Friday, a day after US President Donald Trump lowered it from a devastating 50% rate he had threatened to implement earlier. In an executive order, Trump modified reciprocal tariff rates for dozens of countries, including Lesotho, which had been under threat of a 50% rate since April, the highest of any US trading partner. "It's a mixed feeling," Shelile told Reuters by telephone. "The sad part is that it is still not good enough ... this will lead to job losses." Lesotho's textiles sector is its leading export industry, and it was heavily dependent upon the Africa Growth and Opportunities Act (Agoa), a US trade initiative that offers qualifying African nations duty-free access to the US market. On the back of that preferential tariff, textiles were the tiny mountain kingdom's biggest private employer, with some 40,000 jobs and accounted for roughly 90% of manufacturing exports, according to Oxford Economics.
IOL News
2 hours ago
- IOL News
US State Department's report on farm attacks is 'fake news'
The Presidency said the US State Department's Bureau of Democracy, Human Rights and Labor (DRL) report on farm attacks lacks credibility. Image: GCIS THE Presidency has dismissed as disinformation the US State Department's Bureau of Democracy, Human Rights and Labor's (DRL) report that attacks on farms were not ordinary crimes. The findings lack credibility, says presidential spokesperson Vincent Magwenya who also accused Donald Trump's administration of ignoring reliable information in order to sustain a disinformation campaign against South Africa. The bureau had undertaken a visit to South Africa as part of the President of the United States, Donald Trump's executive orders to learn more about the rural farm attacks and the breakdown of the rule of law. The bureau said local 'sources' reported 296 farm attacks and 49 murders in 2023, adding that victims were disproportionately elderly, isolated and faced delayed police response. It said the SAPS also reported that the number increased to 44 murders in 2024. 'These are not ordinary crimes. In some documented cases, reports detail victims tortured or killed without anything being stolen,' DRL said. 'Earlier this year, a man was beaten and hacked with a machete. In another incident, an elderly woman was assaulted and repeatedly stabbed. In both cases, no theft occurred. These attacks are not motivated by poverty alone.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading The DRL added that in one of the notable incidents in 2023, assailants chanted 'kill the boer, kill the farmer' as they stabbed their victim, adding that these were not fringe slogans as some South African leaders chant the same words to cheering crowds. 'In one case, graffiti praising these leaders was painted on a farmhouse before its owners were brutally attacked. Despite this, as the President of the United States highlighted earlier this year, many South African leaders have failed to condemn this song,' the bureau said, adding that the international community and mainstream media decided to remain silent on this issue. Magwenya said there is no credibility that can be attached to the report. He said the bureau visited Cape Town only, and also ignored credible SAPS statistics in order to sustain a disinformation campaign against South Africa. 'There is nothing constructive or new out of their report. We are fully aware of all challenges relating to crime in our country, including crimes that are committed in rural and farming areas. We are also working on addressing all crimes that affect our citizens,' said Mangwenya. AfriForum welcomed the findings, with its Community Safety spokesperson Jacques Broodryk, saying: 'We are grateful that the United States has confirmed what we have been emphasising for years, namely that farm attacks are not ordinary crimes. 'Farm attacks are brutal, targeted attacks that are often accompanied by torture, murder without anything being stolen and politically charged rhetoric such as 'Kill the Boer'.' However, violence monitor Mary de Haas said the report was not objective, adding that crime affects everyone in South Africa. She said if there was objectivity in the report, the bureau would look at what is happening in rural black communities, where the murder rate is far higher. 'This is a very biased racist agenda to focus on white farmers when most of the victims of brutal crime and torture are black people in South Africa .They are trying to punish South Africa because of the world court case. (The case filed in 2024 against Israel at the International Court of Justice). The genocide is in Gaza, not in South Africa,'' she said. Political analyst Sandile Swana said the US decided to focus on the interests of the white minority while the issue should be resolving the economic struggles of black people. He said the DRL's visit aims to turn South Africa into a colonial State of the US, adding that the report is biased, unscientific and prejudiced to favour Trump and his Make America Great Again campaign. 'This must be seen as a racist measure by the US. The former South African Ambassador to the US Ibrahim Rasool was expelled for correctly identifying the white supremacy tendencies of Trump's presidency,' Swana said. Cape Times
IOL News
2 hours ago
- IOL News
Automotive industry braces for impact of Trump's proposed 30% tariffs on South Africa
The automotive industry raised concern about President Donald Trump's 30% tariff on South Africa that could come into effect in a few days' time. Image: supplied The South African automotive industry is reeling from the announcement of a potential 30% tariff on automotive exports to the United States, expected to take effect in the coming days. This move by President Donald Trump has sparked warnings from the Department of Trade, Industry and Competition of up to 30 000 job losses, with industry leaders voicing deep concerns over the implications for the nation's economy. Renai Moothilal, the CEO and Executive Director of the National Association of Automotive Component and Allied Manufacturers (Naacam), on Monday said that they were deeply concerned about the potential impact on South African automotive exports to the US. 'In 2024, South Africa exported R28.7 billion worth of automotive products to the US, of which R4.4 billion was attributable to automotive components,' Moothilal said. 'The US ranked as the country's third-largest export destination for automotive goods, following Germany and Belgium. This accounted for 10.7% of South Africa's total automotive exports, significantly supporting jobs, industrial output, and the country's trade balance.' Moothilal added that only about one third of South African automotive component exports to the US were affected under Section 232 measures, but with the latest tariff expansion, 100% of these exports are now impacted. 'The impact will be felt across the entire value chain. Direct component exporters to the US are likely to see reduced demand as buyers shift to more cost-effective sources,' he said. 'In addition, suppliers within South Africa who support domestic Original Equipment Manufacturers that export vehicles or integrated systems to the US may face volume reductions, putting pressure on production planning, employment, and investment decisions.' Moothilal said that the imposition of tariffs would directly increase the landed cost of South African vehicles and components in the US market. 'This would make them less competitive compared to products from countries that continue to benefit from preferential or zero-duty access, such as those under the USMCA (United States-Mexico-Canada Agreement). Overall, such tariffs threaten to disrupt well-established trade flows and weaken the global competitiveness of South Africa's automotive manufacturing ecosystem.' Moothilal added that policy cushioning for component manufacturers impacted by the developments in the US was needed to assist the sector and protect its significant economic contribution. Dr Eliphas Ndou, an economist and author at Unisa's Department of Economics, said that the imposition of 30% tariffs will reduce volumes of South Africa's automotive sector's exports to the US. 'The large decline in car exports to the US reported by the Automotive Business Council in the first half of 2025, compared to the same period last year, suggests the contribution of the automotive sector to GDP this year will fall below the level reached in 2024,' he said. Ndou added that, in addition, the economic cost includes the direct loss of employment from the sector, reduced contribution of personal income tax from this sector to total tax revenue, and loss of jobs and tax revenue from supplier networks. Waldo Krugell, a Professor of Economics at North-West University, said that the major automotive exports to the US were BMW X3s and Mercedes C-class, and with the 30% tariff, they will be priced out of the market. 'We know that Mercedes has already suspended C-class production. This is already having a major impact on component suppliers. They cannot easily pivot to new markets because they are supplying a tailor-made product into a global supply chain,' Krugell said. He added that the resulting production losses and job losses will be concentrated in the communities where the production takes place, which means East London specifically will be hard hit. Khulekani Mathe, Business Unity South Africa CEO, said the impact on local industries was substantial. 'In the automotive sector, where exports to the US total approximately R24.1 billion, the exposure to tariffs will be monumental. The sector is currently facing 25% Section 232 tariffs, and the proposed 30% increase could raise total duties to 55%, rendering exports uncompetitive,' Mathe said. 'Approximately 20 000 jobs are at risk in this sector, affecting both OEMs and component manufacturers due to the new tariffs.' BUSINESS REPORT
