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News18
01-08-2025
- Business
- News18
South African Exporters Steel Themselves For Trump Tariff Pain South Africa News Today
South African exporters, including major valve maker Dynamic Fluid Control, are bracing for US steel tariffs that could hit firms reliant on the American market. News18 Mobile App -
Yahoo
01-08-2025
- Business
- Yahoo
US steel tariffs add pain to struggling South African exporters
VIDEO SHOWS: STEEL BEING CUT AND WELDED INSIDE FACTORY / DYNAMIC FLUID CONTROL CEO TALKING ABOUT IMPACT OF TRUMP'S 30% TARIFFS FOR HIS BUSINESS / INTERVIEW WITH SOUTH AFRICA'S STEEL AND ENGINEERING FEDERATION SHOWS: JOHANNESBURG, SOUTH AFRICA (JULY 29, 2025) (REUTERS-Access all) 1. FACTORY WORKERS AT A STEEL AND ENGINEERING TRAINING FACILITY GRINDING STEEL / FIRE SPARKS 2. FACTORY WORKER USING ANGLE GRINDING MACHINE 3. ANGLE GRINDER 4. VARIOUS OF WORKER GRINDING 5. FACTORY WORKER MEASURING STEEL BARS 6. HANDS HOLDING A STEEL BAR 7. WORKERS TRYING TO FIT A STEEL BAR INSIDE CUTTING MACHINE 8. CIRCULAR SAW CUTTING STEAL / FIRE SPARKS JOHANNESBURG, SOUTH AFRICA (JULY 28, 2025) (REUTERS-Access all) 9. DYNAMIC FLUID CONTROL CEO, TUMI TSEHLO SITTING INSIDE HIS OFFICE, LOOKING AT HIS LAPTOP 10. TSEHLO'S HAND SCROLLING ON LAPTOP 11. (SOUNDBITE) (English) DYNAMIC FLUID CONTROL CEO, TUMI TSEHLO, SAYING: "We have significant exports to the United States that have been done under AGOA, and that means that we have been exporting tariff-free into the United States. virtually every one of our valves that we make here are, specialized components that go into the mines into the water industry, wastewater and so on." Related Videos Smooth Sailing for Norwegian Cruise We Set Ourselves Up to Thrive in Stable Rate Environment: Sanborn Starbucks CEO Brian Niccol talks Q3 earnings, turnaround strategy Komatsu CFO on US Tariff Impact 12. TSEHLO LOOKING AT HIS LAPTOP / HAND SCROLLING 13. (SOUNDBITE) (English) DYNAMIC FLUID CONTROL CEO, TUMI TSEHLO, SAYING: "With the imposition of the tariffs, it means that on arrival in the United States, everything that gets delivered or that gets invoiced to the united states from the first of august onwards, we have to put up, 30% of the invoice value upfront, and pay it, when it arrives." 14. FORKLIFT DRIVING INSIDE FACTORY / WORKERS STANDING AROUND TALKING 15. TSEHLO WALKING INSIDE FACTORY AND PICKING UP A COMPONENT USED FOR THEIR VENT-O-MAT VALVES 16. TSEHLO'S HANDS INSPECTING THE CYLINDER AFTER MANUFACTURING IS DONE 17. TSEHLO HOLDING THE CYLINDER FOR THEIR FLAGSHIP VENT-O-MAT VALVE EXPORTED TO THE US 18. (SOUNDBITE) (English) DYNAMIC FLUID CONTROL CEO, TUMI TSEHLO, SAYING: "We're right now standing in the beginning process of the manufacturing of our Vent-O-Mat RGX2. It is our flagship product that is exported to the United States." 19. WORKER HOLDING THE CYLINDER 20. TSEHLO AND WORKER TALKING ABOUT THE COMPONENT 21. TSEHLO AND A FACTORY WORKER LOOKING AT A MACHINE USED TO MANUFACTURE THE CYLINDERS FOR THE VENT-O-MAT VALVES 22. (SOUNDBITE) (English) DYNAMIC FLUID CONTROL CEO, TUMI TSEHLO, SAYING: "If you say what am I worried about, is that the longer the tariffs stay in place, the longer the situation, will continue to disable us." JOHANNESBURG, SOUTH AFRICA (JULY 29, 2025) (REUTERS-Access all) 23. WORKER WELDING STEEL USING GAS METAL 24. HAND MOVING STICK WELDER 25. FIRE SPARKS FROM THE WELDING 26. WORKER USING A GRINDER TO SMOOTH OUT STEEL / FIRE SPARKS 27. CIRCULAR SAW CUTTING STEAL / FIRE SPARKS JOHANNESBURG, SOUTH AFRICA (JULY 29, 2025) (REUTERS-Access all) 28. SOUTH AFRICA'S STEEL AND ENGINEERING FEDERATION (SEIFSA) CEO, TAFADZWA CHIBANGUZA IN HIS OFFICE WORKING ON HIS LAPTOP 29. CHIBANGUZA LOOKING AT SCREEN 30. HANDS HOLDING COMPUTER MOUSE AND KEYBOARD 31. (SOUNDBITE) (English) SEIFSA CEO, TAFADZWA CHIBANGUZA , SAYING: "if one considers the fact that access to the US, say through AGOA, which was tariff-free, but even on those products that were tariffed, the US generally has a very raw, low rate of taxation in terms of import duties. so the point is, then that a tariff to then increase tariffs to thirty percent effectively nullify that market. There's no amount of exchange rate weakness that could compensate for that 30% depreciation." JOHANNESBURG, SOUTH AFRICA (JULY 28, 2025) (REUTERS-Access all) 32. WELDING/FIRE SPARKS 33. WORKER WEARING FACE SHIELD WELDING JOHANNESBURG, SOUTH AFRICA (JULY 29, 2025) (REUTERS-Access all) 34. (SOUNDBITE) (English) SEIFSA CEO, TAFADZWA CHIBANGUZA , SAYING: " The potential that that market holds for us, is critical in the sense that, as I said it is the largest consumer market and it is one of the largest economies so it presents a lot of potential, and also maybe just a point on that is that already we are operating an environment of extreme difficulty for the steel industry itself." 35. WORKERS PACKING STEEL BARS 36. STEEL BARS STACKED ON TOP OF EACH OTHER STORY: For decades, a Johannesburg-based mid-sized engineering company has manufactured and shipped valves used in mines, water and waste infrastructure to the United States, its biggest export market. Now, Dynamic Fluid Control, one of Africa's biggest valve makers which employs 200 people, is concerned that tariffs on steel and related products will force it out of the U.S market, which accounts for 80% of its export sales, and trigger job losses. For years, DFC's exports have gone into the U.S duty-free, thanks to the African Growth and Opportunity Act (AGOA), a U.S. trade initiative passed in 2000 under former President Bill Clinton to deepen trade ties with Sub-Saharan Africa and help African countries develop their economies. "We have significant exports to the United States that have been done under AGOA. And that means that we have been exporting terror free into the United States," said DFC chief executive officer Tumi Tsehlo. "With the imposition of the tariffs, it means that on arrival in the United States, everything that gets delivered or that gets invoiced to the United States from the first of August onwards, we have to put up, you know 30% of the invoice value up front and pay it when it arrives," Tsehlo said. In the first five months of 2025, South Africa's iron and steel exports to the United States declined to 3.7 billion rand ($204.13 million) from 5.1 billion rand during the same period last year. The Steel and Engineering Industries Federation of Southern Africa (SEIFSA) says tariffs threaten South Africa's steel and related product exports to the U.S, which amounted to $1.8 billion in 2024. "If one considers the fact that access to the US was through AGOA, which was tariff-free. But even on those products that were tariffed, the US generally has a very low rate of taxation in terms of import duties. So the point is then that a tariff to then increase to 30%, effectively nullifies that market," SEIFSA chief executive officer Tafadzwa Chibanguza said. (Production: Sisipho Skweyiya) Sign in to access your portfolio
