uMkhonto weSizwe (MK) Party Floyd Shivambu slammed the US tariffs on South Africa, calling it a foolish move.
Image: File
uMkhonto weSizwe (MK) Party said the US tariffs on South Africa would hit the white farmers more because they are the biggest beneficiaries of trade with the US.
MKP secretary-general Floyd Shivambu told journalists in a media briefing on Friday that white farmers are the ones with the most land in the country.
“The biggest victim of racism of Elon Musk and his friend Donald Trump will be the Afrikaners who will be in bigger trouble with this increase of tariffs on South Africa,” he said.
US President Donald Trump announced on Wednesday that all US imports will be subject to a base duty of 10%, with higher rates applied to 60 nations, including South Africa.
According to Trump, these countries were deemed the worst offenders because of their significant trade imbalances with the US, which supported the higher taxes.
Trump explicitly noted that the US has responded to South Africa's up to 60% tariffs on US exports by imposing a 30% tariff on SA imports.
The president claimed that the US would be considerate by halving the proposed penalties, even though the Trump administration had earlier hinted at the prospect of imposing fully reciprocal taxes.
Global markets reacted sharply to the announcement, raising concerns among South African companies about the potential economic repercussions
Shivambu stated that the US has long advocated against imposing tariffs on goods entering other countries.
“Now because this is a shift in the global balance of power, with China rising with proper manufacturing and capacity and producing meaningful goods and products.
“The Americans are the ones who are turning around to opt what they call protectionism or protecting their market against imports from other parts of the world,” he said.
“There’s some level of foolishness in this”.
In response to the tariffs, the US plans to impose a new 30% import tariff on South African goods, which has sparked criticism from President Cyril Ramaphosa.
According to the Presidency, this development highlights the need for South Africa to seek a renegotiate of trade arrangements with the greatest economy in the world and raises serious concerns.
kamogelo.moichela@iol.co.za
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