South African Reserve Bank: Trump's tariffs on South Africa could lead to about 100,000 job losses
On July 16, South African Reserve Bank Governor Kganyago stated on Wednesday that U.S. President Trump's tariffs on South Africa could result in approximately 100,000 job losses, with the agriculture and automotive sectors being the hardest hit. Kganyago noted that starting August 1, Africa's largest economy will face a 30% tariff, which could cause significant damage to certain industries. Kganyago said, "The impact on agriculture could actually be devastating, as agriculture employs many low-skilled workers, with the main affected sectors being citrus fruits, table grapes, and wine." Kganyago also pointed out that statistics show that after the Trump administration imposed import tariffs on automobiles in April, South Africa's automotive exports to the U.S. fell by over 80%, a concerning trend. He stated, "If we cannot find alternative measures, the impact on employment could be around 100,000, which is the reality we are facing."
