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Engineering News reports that the SA government will on Monday unveil the support measures for companies and workers affected by the imposition of 30% reciprocal tariffs by the US on SA exports as from 8 August.
The tariffs are being implemented notwithstanding a telephone call between President Cyril Ramaphosa and US President Donald Trump on Wednesday, during which it was agreed that trade negotiations should continue. Government estimates that some 30,000 jobs could be affected by the tariffs across various industries, including agriculture and automotives. Details of the final support package will be unveiled at a briefing to be hosted by Trade, Industry and Competition Minister Parks Tau and will include the following: establishment of an Export Support Desk, to serve as a direct point of contact for affected companies; measures to assist companies to absorb the tariff so as to protect jobs and productive capacity; leveraging of the Localisation Support Fund to support the competitiveness of affected companies; use of the Export and Competitiveness Support Programme to provide a working capital facility and a plant and equipment facility to address short- to medium-term needs across affected industries; deploying existing instruments of the Department of Employment and Labour to mitigate potential job losses; and the publication by the Competition Commission of a draft block exemption for exporters, which would allow competitor companies to cooperate to improve economies of scale and export efficiencies.
- Read the full original of the report in the above regard at Engineering News
- Read too, Private sector mobilises as government falters in US tariff fallout, at Daily Maverick
Get other news reports at the SA LabourNews home page