0:00
U.S. President Donald Trump has called tariffs the most beautiful word in this dictionary
0:06
Some African countries might beg to differ. Lesotho was slapped with White House's highest tariff rates in the list released on Wednesday
0:14
It means Americans bringing goods in will have to pay an additional 50% import tax
0:20
Other countries were hit like Madagascar with 47% and South Africa 30%
0:26
South Africa Minister of Trade says they are now actively working towards new opportunities
0:33
Partnerships for mutual benefit are certainly under threat from unilateral tariff measures
0:40
Therefore, South Africa will not be left wanting in this trade tassel
0:46
We are actively working towards new opportunities and new markets for our goods and services
0:52
and working with partners to see the value of mutually beneficial partnerships
0:58
We recently returned from a trip in Japan, which was led by our deputy president together with a team of ministers
1:08
I'm happy to report that we secured in Japan a willing and respectful partner
1:13
So Trump measures are raising concerns about the future of the African Growth and Opportunity Act also called AGOA the trade deal with the U has been crucial for industries like textiles in Lesotho and automotive manufacturing in South Africa
1:28
Tom Kennedy has more from Cape Town. Now, Trump has labelled South Africa as amongst the worst offenders
1:36
treating the U.S. very badly, in his words, and will incur a 30% tariff
1:41
Platinum and other metals needed by the U.S. will be exempt, but the car and agricultural sectors will be hard hit
1:48
Now, this is, according to Trump, a balancing of trade deficit from the US
1:53
meaning it's trying to balance its imports and exports with other trading partners
1:58
And Trump said that American taxpayers have been ripped off over the last 50 years
2:04
Now, Lesotho, the small southern African country which exports diamonds and textiles to the US
2:10
will incur a staggering 50% tariff. Now, textiles represent 90% of Lesotho's exports
2:18
and half of its population live below the poverty line. So these tariffs are likely going to have a huge effect on Lesotho
2:27
It will also likely mean the end of a GOA, the free trade agreement signed by Bill Clinton
2:33
to foster economic growth and jobs in sub-Saharan African countries. These tariffs will go into effect on April 9
