Latest news with #SouthAfricanChamberofCommerce
Zawya
a day ago
- Business
- Zawya
South African business confidence edges up in July ahead of Trump's 30% tariff
South African business confidence rose in July, helped by higher new vehicle sales, rising manufacturing output, strong precious metals prices and well-contained inflation, data showed on Wednesday, 13 August 2025. The South African Chamber of Commerce and Industry's Business Confidence Index rose to 116.7 in July, up from 113.2 in June. The business chamber releases the index every two months. June's business confidence level was lower than May's 115.8 reading before July's rebound. The chamber said the 30% tariff on South African exports to the US that kicked in last week could weigh on sentiment in the remainder of the year. "The imposition of a general tariff of 30% by the USA on exports from South Africa to the USA could have unintended and austere consequences for the South African economy and for longer-term business relations," the South African Chamber of Commerce and Industry (SACCI) said in a statement. South African officials were planning to submit a revised trade deal offer to Washington on Tuesday to try to secure a lower tariff or exempt major industries. Months of negotiations with US President Donald Trump's administration have so far failed to produce a deal. SACCI said it was important that South Africa does everything possible to have positive trade relations with the US given subdued economic growth forecasts for this year and next. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Reuters
6 days ago
- Business
- Reuters
South African business confidence edges up in July ahead of Trump's 30% tariff
JOHANNESBURG, Aug 13 (Reuters) - South African business confidence rose in July, helped by higher new vehicle sales, rising manufacturing output, strong precious metals prices and well-contained inflation, data showed on Wednesday. The South African Chamber of Commerce and Industry's Business Confidence Index (ZABCI=ECI), opens new tab rose to 116.7 in July, up from 113.2 in June. The business chamber releases the index every two months. June's business confidence level was lower than May's 115.8 reading before July's rebound. The chamber said the 30% tariff on South African exports to the U.S. that kicked in last week could weigh on sentiment in the remainder of the year. "The imposition of a general tariff of 30% by the USA on exports from South Africa to the USA could have unintended and austere consequences for the South African economy and for longer-term business relations," the South African Chamber of Commerce and Industry (SACCI) said in a statement. South African officials were planning to submit a revised trade deal offer to Washington on Tuesday to try to secure a lower tariff or exempt major industries. Months of negotiations with U.S. President Donald Trump's administration have so far failed to produce a deal. SACCI said it was important that South Africa does everything possible to have positive trade relations with the U.S. given subdued economic growth forecasts for this year and next.
The Citizen
08-08-2025
- Business
- The Citizen
SA's ‘gateway to Africa' status at risk as Trump tariffs kick in
Criticism mounts over SA government's inability to secure a better trade deal with the US. The South African Chamber of Commerce in the USA (Saccusa) says SA's position as a gateway for US companies into Africa is now at risk and expressed 'grave concern' at the government's inability to secure a trade deal or exemption from the 30% tariffs imposed on a wide range of SA goods entering the US. The sectors hardest hit by the new tariffs – which kicked in on 7 August – are manufacturing, citrus, wine, steel, automotive parts, agricultural processing and textiles. Saccusa is the latest of several business bodies to criticise government's handling of the trade talks. In a statement issued on Thursday, the chamber said it had received reports from exporters experiencing cancelled contracts, delayed shipments, and rising warehousing costs due to new customs hurdles and diminished price competitiveness in the US market. 'Small and medium-sized South African-owned businesses operating in the US have also reported being forced to reassess their viability in light of reduced margins. 'Saccusa is actively working to connect these companies with business sustainability and trade advisory services, as well as new buyer networks and alternative market entry points within the Americas and beyond,' the Chamber's statement said. ALSO READ: US tariff an existential threat for a third of metals and engineering sector Urgent action needed The Steel and Engineering Industries Federation of Southern Africa (Seifsa) says its members stand to lose $1.8 billion (R32.4 billion) in export sales due to the new 30% tariffs and the existing 50% tariffs on steel. SA steel exporters are now at risk of losing market share in the US to countries like Indonesia, which secured lower tariffs. Business organisations including Business Unity SA (Busa) and Business Leadership SA (BLSA) have called for urgent action by government to mitigate the impact of the new tariffs. With traditional diplomatic channels failing to secure a reprieve from the tariffs, the burden of engagement has shifted toward the private sector, says Saccusa, adding that it is mobilising its extensive diaspora network, business associations, and corporate partners to raise awareness of the impact of the tariffs in the US. The chamber says it aims to build coalitions across industry sectors and engage US legislators and policy influencers to highlight the contributions made by SA to the US economy. 'The recent telephone engagement between President Cyril Ramaphosa and President Donald Trump, during which both leaders committed to continued dialogue, represents a modest but essential step in resolving the impasse,' says Saccusa. 'However, the lack of a concrete suspension or exemption has left thousands of South African jobs and livelihoods hanging in the balance.' The chamber says both governments must recommit to the principles of fair, rules-based trade and prioritise economic cooperation politics. At the same time, SA industry must seize the moment 'to innovate, collaborate, and realign its global trade strategies.' ALSO READ: As if US tariff is not enough, more bad news for South African exporters SA sets up 'export support desk' Speaking to Moneyweb's Jeremy Maggs on Thursday, spokesperson to the minister of Trade Industry and Competition, Kaamil Ali, said government had done extensive work to avert any crisis arising from the US tariffs, including establishing an export support desk. 'Our first prize was always, and remains, a better deal with the US government,' said Ali. 'We still believe that our historic trade relationship with the US and what we have offered, and the offer that we put on the table, provides mutually beneficial trade terms for both the US and South Africa. 'Be that as it may, it is the seventh today and we're still awaiting a response from the US on our trade deal.' The export support desk has been receiving calls primarily from exporters of fresh agricultural produce with a short shelf life. Any produce on the water and sailing to the US will be allowed entry without being subject to the new tariffs. ALSO READ: Devastating impact of US tariffs on SA automotive sector even before implementation Saccusa says the tariff crisis underscores the need for SA to foster better relations with its biggest trade partners and urges SA companies to persist in exploring commercial opportunities in North America. 'Through existing and emerging free trade agreements – including the African Continental Free Trade Area (AfCFTA) – there are new opportunities to expand market access,' it says. Many other countries hit with higher US tariffs have received a similar wake-up call and are now exploring markets outside of the US, given the potential for disruption to markets cultivated over years. Saccusa says it supports calls for structural reforms aimed at reducing red tape, enhancing investment incentives, and accelerating industrial development. 'A coordinated domestic response is vital not only to manage the immediate fallout but also to position South Africa as a resilient, agile economy capable of adapting to shifting global trade dynamics,' it says. This article was republished from Moneyweb. Read the original here.
Associated Press
22-03-2025
- Politics
- Associated Press
67,000 white South Africans express interest in Trump's plan to give them refugee status
CAPE TOWN, South Africa (AP) — The United States Embassy in South Africa said Thursday it received a list of more than 67,000 people under President Donald Trump's plan to relocate members of a white minority group he claims are victims of racial discrimination by their Black-led government. The list was given to the embassy by the South African Chamber of Commerce in the U.S., which said it became a point of contact for white South Africans asking about the program announced by the Trump administration last month. The chamber said the list does not constitute official applications. Trump issued an executive order on Feb. 7 cutting U.S. funding to South Africa and citing 'government actions fueling disproportionate violence against racially disfavored landowners.' Trump's executive order specifically referred to Afrikaners, a white minority group who are descendants of mainly Dutch and French colonial settlers who first came to South Africa in the 17th century. The order directed Secretary of State Marco Rubio and Secretary of Homeland Security Kristi Noem to prioritize humanitarian relief to Afrikaners who are victims of 'unjust racial discrimination' and resettle them in the U.S. under the refugee program. There are approximately 2.7 million Afrikaners in South Africa, which has a population of 62 million. Trump's decision to offer some white South Africans refugee status went against his larger policy to halt the U.S. refugee resettlement program. The South African government has said that Trump's allegations that it is targeting Afrikaners through a land expropriation law are inaccurate and largely driven by misinformation. Trump has posted on his Truth Social platform that Afrikaners were having their farmland seized, when no land has been taken under the new law. The executive order also criticized South Africa's foreign policy, specifically its decision to accuse Israel of genocide against Palestinians in Gaza in a case at the United Nations' top court. The Trump administration has accused South Africa of supporting the Palestinian militant group Hamas and Iran and taking an anti-American stance. The U.S. has also expelled the South African ambassador, accusing him of being anti-America and anti-Trump. An official at the U.S. Embassy in the South African capital, Pretoria, confirmed receipt of the list of names from the South African Chamber of Commerce in the U.S. but gave no more detail. Neil Diamond, the president of the chamber, said the list contains 67,042 names. Most were people between 25 and 45 years old and have children. He told the Newzroom Afrika television channel that his organization had been inundated with requests for more information since Trump's order and had contacted the State Department and the embassy in Pretoria 'to indicate that we would like them to make a channel available for South Africans that would like to get more information and register for refugee status.' 'That cannot be the responsibility of the chamber,' he said. Diamond said only U.S. authorities could officially register applications for resettlement in the U.S. The U.S. Embassy in South Africa said it is awaiting further instructions on the implementation of Trump's order. ___
The Independent
21-03-2025
- Politics
- The Independent
Almost 70,000 white South Africans interested in Trump's US asylum plan
Nearly 70,000 people have expressed interest in relocating to the U.S. as refugees under President Donald Trump 's controversial plan to offer refuge to a white South African minority group. The U.S. Embassy in South Africa confirmed receiving the list of names from the South African Chamber of Commerce in the U.S., which acted as a point of contact for inquiries about the program. The chamber clarified that the list does not represent formal applications. Trump issued an executive order on February 7 cutting U.S. funding to South Africa and citing 'government actions fuelling disproportionate violence against racially disfavored landowners.' Trump's executive order specifically referred to Afrikaners, a white minority group who are descendants of mainly Dutch and French colonial settlers who first came to South Africa in the 17th century. The order directed Secretary of State Marco Rubio and Secretary of Homeland Security Kristi Noem to prioritize humanitarian relief to Afrikaners who are victims of 'unjust racial discrimination' and resettle them in the U.S. under the refugee program. There are approximately 2.7 million Afrikaners in South Africa, which has a population of 62 million. Trump's decision to offer some white South Africans refugee status went against his larger policy to halt the U.S. refugee resettlement program. The South African government has said that Trump's allegations that it is targeting Afrikaners through a land expropriation law are inaccurate and largely driven by misinformation. Trump has posted on his Truth Social platform that Afrikaners were having their farmland seized, when no land has been taken under the new law. The executive order also criticized South Africa's foreign policy, specifically its decision to accuse Israel of genocide against Palestinians in Gaza in a case at the United Nations ' top court. The Trump administration has accused South Africa of supporting the Palestinian militant group Hamas and Iran and taking an anti-American stance. The U.S. has also expelled the South African ambassador, accusing him of being anti-America and anti-Trump. An official at the U.S. Embassy in the South African capital, Pretoria, confirmed receipt of the list of names from the South African Chamber of Commerce in the U.S. but gave no more detail. Neil Diamond, the president of the chamber, said the list contains 67,042 names. Most were people between 25 and 45 years old and have children. He told the Newzroom Afrika television channel that his organization had been inundated with requests for more information since Trump's order and had contacted the State Department and the embassy in Pretoria 'to indicate that we would like them to make a channel available for South Africans that would like to get more information and register for refugee status." 'That cannot be the responsibility of the chamber,' he said. Diamond said only U.S. authorities could officially register applications for resettlement in the U.S. The U.S. Embassy in South Africa said it is awaiting further instructions on the implementation of Trump's order.
