The meeting in Washington was held ahead of the 80th session of the United Nations General Assembly
South African Trade, Industry, and Competition Minister Parks Tau has described his visit to Washington to discuss bilateral commercial ties with the US as “constructive.”
Tau and Minister of International Relations and Cooperation, Ronald Lamola, were sent to the US ahead of the 80th Session of the United Nations General Assembly (UNGA 80) being held in New York for six days starting next Tuesday.
On X, Tau said that he held constructive talks with the US Trade Representative, Ambassador Jamieson Greer, “on our way forward on SA-US Trade relations. Our teams have been in intense negotiations, and I will be briefing President [Cyril] Ramaphosa on the outcomes in due course.“
South Africa’s Embassy to the US said on its X account that “Tau reaffirmed South Africa’s commitment to expanding trade and investment cooperation with the US”.
A Trade, Industry, and Competition statement said that the US “remains a key trade and investment partner for South Africa”.
[US]
I held constructive talks with the US Trade Representative, Amb. Greer on our way forward on SA-US Trade relations. Our teams have been in intense negotiations and I will be briefing President Ramaphosa on the outcomes in due course.#UNGA80pic.twitter.com/LHL9DmHglO
Local exports to the US were valued at $8.2 billion (approximately R142 billion), while there are more than 600 US companies in South Africa and 22 South African companies in America.
Following the implementation of 30% tariffs on South Africa on August 8, government put a suggested amended deal on the table which has, so far, been snubbed by US President Donald Trump.
South Africa offered a ten-year plan under which it will import petajoules of liquefied natural gas, unlocking $12 billion in investment into the US.
It also offered to simplify US poultry exports under the 2016 tariff rate quota, potentially generating $91 million in trade, and exploring open market access for the US to blueberries.
Local companies are set to invest $3.3 billion in US industries including mining and metals recycling, with both governments pursuing joint investment in critical minerals, pharmaceuticals, and agri-machinery.
Specific sectors, such as shipbuilding, counter-seasonal agriculture, and small company exports under $1 million per year, will be exempted from reciprocal tariffs to protect supply chains, government suggested.
South Africa’s economy has already been hard hit by tariffs, even ahead of their implementation, Annabel Bishop, chief economist at Investec has pointed out, based on recent data.
Bishop added that the earlier 25% automotive tariff had already contributed to an 82% drop in vehicle exports to the US in the first half.
In July, total automotive exports from South Africa fell 1.9% year-on-year globally.
Ramaphosa will lead the UNGA 80 delegation from South Africa and, while in the US, will also hold bilateral meetings with several of his counterparts and meet with CEOs of major international companies.
