30% tariff on exports to US would destroy demand, analyst says
A 30% net effective tariff rate on exports to the US from South Africa would essentially destroy demand growth in 2025 and 2026, resulting in permanent economic scarring, Wood Mackenzie metals and mining markets VP Robin Griffin has said. “However, we're now assuming the 10% tariffs will remain in place, and that's because we think that probably will generate enough revenue for the Trump administration to pay for their tax cuts. That's the working assumption, although we don't know what will happen,” he said at the Junior Mining Indaba, in Johannesburg, on May 28.
A 30% net effective tariff rate on exports to the US from South Africa would essentially destroy demand growth in 2025 and 2026, resulting in permanent economic scarring, Wood Mackenzie metals and mining markets VP Robin Griffin has said. “However, we're now assuming the 10% tariffs will remain in place, and that's because we think that probably will generate enough revenue for the Trump administration to pay for their tax cuts. That's the working assumption, although we don't know what will happen,” he said at the Junior Mining Indaba, in Johannesburg, on May 28.
