#TradingTypes101 South Africa seeks new trade agreement with U.S.

South Africa seeks to negotiate a new "bilateral and mutually beneficial trade agreement" after being struck with 30% tariffs by the U.S. administration under Donald Trump's extensive levy campaign announced on Wednesday.

"The tariffs affirm the urgency to negotiate a new bilateral and mutually beneficial trade agreement with the U.S., as an essential step to secure long-term trade certainty," South Africa's presidency noted on Thursday, expressing "concern" over the newly imposed duties.

The African country has previously expressed willingness to meet with Washington to discuss the U.S. administration's separate 25% tariffs on automobile imports. South African vehicle exports to the U.S. top $2 billion, according to Reuters.