NAACAM highlights concern on the outlook for SA's auto growth in light of 30% tariff imposed by USA скачать в хорошем качестве

NAACAM highlights concern on the outlook for SA's auto growth in light of 30% tariff imposed by USA

Navigating US tariffs: NAACAM highlights concern on the outlook for South African automotive growth in light of 30% tariff imposed by USA In a SABC Morning Live interview today, Renai Moothilal, NAACAM CEO , expressed concern that the 30% US tariffs on exports could threaten thousands of jobs, given the country’s importance as a key export market for South Africa. He highlighted that while an urgent diplomatic solution was still first priority the coming period would require all on hands on deck to diversify markets and shore up the existing domestic base of component production with interim support measures. He noted that existing contracts are likely to be honoured, but the real risk lies in South Africa becoming less competitive for future production and exports. “We are already seeing new contracts, especially for the US, being cancelled or not pursued, putting one of the country’s most critical manufacturing sectors at risk,” he said. He advised that existing markets in the EU needed to be leveraged and unlocking the African trade environment through industrial partnerships particularly in automotive related critical mineral processing was going to be important albeit not immediate. Watch the full interview here: