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South Africa seeks new US trade deal after tariff hike, says presidency

South Africa's Presidency said Thursday that new U.S. Tariffs highlight the need for a bilateral trade agreement with Washington in order to guarantee long-term trading certainty.

On Wednesday, U.S. president Donald Trump announced global reciprocal tariffs for most imports to the United States.

Trump imposed an 8% rate on South Africa.

The Presidency issued a statement saying that "the tariffs confirm the urgency of negotiating a new bilateral trade agreement with the U.S. as an essential step in order to ensure long-term trading certainty."

These latest tariffs will be in addition to 25% on all cars and auto parts imported into the U.S. that will take effect from Thursday.

The levies could have a serious impact on South Africa's exports to the United States of parts and vehicles worth over $2 billion.

The President's Office added: "While South Africa remains committed towards a mutually-beneficial trade relationship with the United States... unilaterally imposed punitive tariffs serve as a hurdle to trade and shared prosper," (Reporting and editing by Olivia Kumwenda Mtmabo, Sharon Singleton, and Nqobile Dudla)

(source: Reuters)