Latest news with #industryandcompetition
TimesLIVE
9 hours ago
- Business
- TimesLIVE
SA Rooibos Council pushes for reduction or removal of US 30% tariff
The South African Rooibos Council (SARC) is working with the department of trade, industry and competition and the US embassy to push for the removal or reduction of the new 30% US tariff on South African imports, including rooibos. The SARC said rooibos is a uniquely South African product, grown exclusively in a small region of the Western Cape and not cultivated anywhere else in the world, including the US. 'As such, it poses no competitive threat to American agricultural production or domestic manufacturing.' The council said more than 90% of rooibos exported to the US was shipped in bulk for blending, packaging and marketing by American companies, which supported value addition, stimulated local business activity and created jobs within the US market. It said the full impact on the rooibos industry would become clearer over the next few months, with the US accounting for about 5% of total exports. Though the US was an important market, the industry's exposure was somewhat cushioned by a broad and steadily expanding global customer base, the council said. 'Our priority is to support rooibos producers and exporters during this challenging period,' said SARC chairperson Dawie de Villiers. 'We are actively engaging with stakeholders and exploring all opportunities to ensure rooibos remains competitive in the US market, while also strengthening our presence in other international markets.'
TimesLIVE
09-07-2025
- Business
- TimesLIVE
Armchair critics are ignorant about processes of competition authorities
While some of the criticisms levied at the Competition Commission and the department of trade, industry and competition (DTIC) for how they deal with public interest considerations in terms of the Competition Act are justified, it is not reasonable or fair to suggest every lengthy tribunal merger process is the fault of the competition authorities. While in an ideal world merger processes would be fast-tracked in the interests of commercial certainty and efficiency, one has to bear in mind the competition authorities are there for a reason. They are there to protect the interests of customers and consumers. If the competition authorities don't carefully scrutinise problematic transactions, there is no reason for them to be there. Perhaps the solution in part is that mergers that don't present any issues should be approved as quickly as possible, and the Competition Commission and the DTIC should not try to use the public interest provisions of the Competition Act to achieve some form of economic realignment. One must also distinguish delays occasioned by the tribunal being understaffed from timing issues associated with a proper and careful assessment of transactions. The tribunal is understaffed, and there needs to be a concerted effort between the DTIC, the tribunal and the competition law community to seek to address the issue as soon as possible. Hopefully, if the situation can be remedied, this could fundamentally improve timing difficulties that arise from there not being sufficient tribunal members. However, the shortage of tribunal members does not detract from the responsibility and statutory obligation of the tribunal to carry out its mandate in relation to complex transactions. Ultimately it must be remembered there will always be a certain category of mergers that will require very careful scrutiny, and the competition authorities must be allowed to do their job in the interests of discharging their mandate to the public. Potentially the more insidious outcome from all the armchair criticism is that the competition authorities feel under pressure to wave transactions through that require more careful consideration. An appropriate balance needs to be struck between not compromising commercial efficiency and economic growth that comes from transaction-based commercial activity, while at the same time ensuring the competition authorities deliver on their statutory mandate and safeguard the interests of consumers and the public as a whole.
TimesLIVE
29-05-2025
- Business
- TimesLIVE
No timelines set for trade deals with US, says Ntshavheni
The government has put no timelines to its discussions on bilateral trade agreements with the US. Minister in the Presidency Khumbudzo Ntshavheni said on Thursday there can be no deadlines attached to any clinched deals as agreements will be staggered. 'There is a basket of offerings that have been tabled through the department of trade, industry and competition, working with the department of mineral resources & energy, department of agriculture, and other departments.' According to the minister, the various deals will be signed as they are finalised. 'There are many discussions taking place, for example on poultry, pork and citrus. If we close a deal on pork tomorrow, because we are a net importer of pork, why should it wait for a discussion on energy and gas that may only be closed in two months' time? 'So as the deals and areas of agreements are reached, they will be implemented. The US remains one of our strategic partners so we will want to work and conclude those as speedily as possible.' President Cyril Ramaphosa led a delegation, which included Ntshavheni, to the White House to reset and strengthen bilateral relations between the two countries after allegations of persecution of white South Africans by US President Donald Trump's administration. 'The issue of relations between South Africa and the US was an issue that occupied the minds of many people in our country. Many were concerned about the deteriorating relationship between our two countries, having recognised the important roles we play in each other's economies, apart from various political and diplomatic relations,' said Ramaphosa earlier this week. Ntshavheni reported the two countries will discuss not only tariffs but also non-tariff barriers. 'We have proposed that we need a quarter of 40,000 vehicles manufactured in South Africa to enter the US in the current no tariff arrangement. There was a discussion about critical minerals, which is in everybody's interest, but you'll recall that in the previous cabinet meeting we approved a critical minerals strategy driven from the fact that we are no longer exporters of sand and rock. 'We are going to beneficiate at source or nearest to source and that discussion must be framed within the provision of our critical minerals strategy. There are licensing requirements to mine in South Africa and we have indicated that if they want to mine they must partner with those who already hold exploration or mining licences.' She said cabinet welcomed the 'reset of strategic relationships' between Pretoria and Washington, adding they look forward to the US' continued participation. 'The South African and US teams will finalise the details of trade deals. It is safe to emphasise the objectives South Africa had set have been met,' said Ntshavheni. Trade, industry and competition minister Parks Tau previously told TimesLIVE Premium South Africa submitted to the US government a framework that seeks to balance and promote bilateral trade and investment. 'Given that the expectation from the US side was for countries to address the issues around trade deficit and non-tariff barriers to trade, the framework includes elements that address these issues and will be subject to negotiations between our two countries. 'The elements include procurement of gas from the US, addressing agricultural market access from both sides, promoting two-way investment, co-operation on critical minerals, co-operation among our development finance institutions and discussion on tariffs — in a manner that protects the common external tariff — and digital trade. All this will be done in a manner that preserves regional integration and industrial capabilities. The request from the South African side, among others, is for a maximum tariff of 10% while the two countries conduct negotiations,' Tau said. He added that the gas element of the package was twofold. 'First, to work on import of gas from the US to ensure security of supply and cater for domestic needs. Further, given the discovery of shale gas in South Africa, there is a need for co-operation on technologies,' Tau said.
