- BUSINESS REPORT
CAPE TOWN - South African Trade and Industry Minister Rob Davies discusses President Donald Trump's impact on the global economy, trade tariffs, the rand, and Chinese investment in the nation on Wednesday.
He spoke to Bloomberg Surveillance exclusively.
Davies has asked the US government to not implement punitive tariffs that may lead more damage to both currencies.
“We are asking the US to back away and not to subject us to this,” said Davies in an interview in Bloomberg’s Johannesburg office on Tuesday.
“We are collateral damage in a war you are fighting with someone else, in a war not of our making.”
South Africa has in recent months has been hit hard by steel and aluminum tariffs and this could lead to a further blow to the economy if these tariffs are extended to the automotive industry, Davies said.
The automotive industry accounts for 7 percent of South Africa's economy.
Davies told Bloomberg that SA may remove US poultry concessions in response, but this is subject to an application by SA poultry producers and may be out of governments hands.
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