On Friday, South Africa’s government leaders warned that President Trump’s wide trade tariff policies have zeroed out Africa’s AGOA benefits. Since its start in 2000 the trade initiative has connected US markets with eligible sub-Saharan African countries but its ending date is set for September. The chances of AGOA extension decline strongly due to Trump’s substantial new trade regulation.
South Africa’s foreign and trade ministers explained their strategy to handle negative economic effects at a press meeting. The ministers explained that their overall trade decisions directly affect South Africa’s important economic activities.
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“The wide-ranging tariff changes will touch our national economy through automotive production, agriculture, food processing, chemical businesses, metal manufacturing, and more. They affect both job creation and economic expansion”, they stated in a joint statement.
