Audio By Carbonatix
U.S. President Donald Trump's tariffs on South Africa could cause around 100,000 job losses, with the agriculture and automotive sectors hardest hit, central bank governor Lesetja Kganyago said on Wednesday.
Kganyago told local radio station 702 that the impact of the 30% tariff, which Africa's biggest economy faces from August 1, could cause significant damage to specific industries.
"The impact in agriculture could actually be quite devastating because agriculture employs a lot of low-skilled workers, and here the impact is on citrus fruit, table grapes and wines," Kganyago said.
He said statistics showing South African car exports to the United States slumped more than 80% in the wake of import tariffs imposed on cars by the Trump administration in April were very concerning.
"If we do not find alternative measures, the impact on jobs could be around 100,000, so that is what we actually face," the governor said.
South Africa already has one of the highest unemployment rates in the world, with the official rate sitting at 32.9% in the first quarter of this year and an expanded definition at 43.1%.
Farmer groups have also warned of the adverse impact of the tariffs on producers of citrus, macadamia nuts, grapes, wine, fruit juices and ostrich leather.
In the citrus sector alone the tariffs have put 35,000 jobs in jeopardy and threaten to devastate towns such as Citrusdal in the Western Cape that are heavily dependent on exports to the U.S.
Latest Stories
-
Machu Picchu train crash leaves one dead and dozens injured
3 minutes -
Heavy police presence in Sydney for New Year’s celebrations after Bondi attack
28 minutes -
Ghana not experiencing ‘dumsor’ despite occasional outages – Analyst
31 minutes -
ESLA stabilised energy sector but legacy debt remains major challenge – Analyst
32 minutes -
Peter Obi dumps LP, defects to ADC
52 minutes -
Proposed 5-Year Presidential Term Could Break Ghana Tradition of 8-Year Mandate
52 minutes -
Ghana Airways technical completion paves the way for a triple threat economic reset
60 minutes -
Cedi depreciation marked most disastrous period in Ghana’s economic management – Felix Kwakye Ofosu
1 hour -
Walewale, Bolgatanga police investigate deadly checkpoint shooting
1 hour -
Taxpayers to pay less under revised VAT structure from 2026 — GRA
1 hour -
Bullish Andre Ayew talks up NAC Breda challenge
2 hours -
Cybersecurity Authority warns public against festive season parcel delivery scams
2 hours -
Andre Ayew joins Dutch side NAC Breda till end of season
2 hours -
It’s fair to say that the gov’t has started well on economic management – Oppong Nkrumah
2 hours -
Mahama inherited the worst economic situation in Ghana’s history, supervised by the NPP – Felix Kwakye Ofosu
2 hours
