6 days ago
Why Donald Trump's 30% tariff on SA exports could sink the local boat building industry
When you think of the products South Africa exports to the U.S, you probably think of cars, fruit and wine.
It turns out though, that one of South Africa's big exports is also boats.
There's a growing boat industry centred around the Western Cape, where boats and other vessels are manufactured at much cheaper prices than our competitors.
But with the Trump administration slapping further tariffs on South African exports, the boat manufacturing sector in South Africa could be in trouble.
Trump's 30% tariff on South African exports is due to come into effect on 1 August.
Speaking to Stephen Grootes on The Money Show, Vanessa Davidson, executive head at the SA Boat Builders Exporters Export Council says a 30% tariff would be significantly impactful on the sector.
