Fears of more job losses if 30% trade tariff happens

The country’s unemployment rate could further worsen should the USA impose a 30% trade tariff on South African exports.

Thousands of jobs could be lost in several industries, including aluminium, steel, vehicles, auto parts, as well as clothing and textiles.

This was revealed by local economist Professor Irrshad Kaseeram, who said, with Trump’s tariffs and the removal from African Growth and Opportunity Act (AGOA) post-September, ‘South Africa’s employment losses will be staggering’.

Meanwhile, the chairperson of the Select Committee on Economic Development and Trade, Sonja Boshoff has warned that a ‘tariff of this magnitude threatens not only the profitability of our exporters but the livelihoods of workers and the economic stability of entire agricultural regions’…

Read the full story in the ZO Monday edition, out on the shelves and on the ZO app. 

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