Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
JOHANNESBURG, Aug. 13 (Xinhua) — South Africa will submit a revised trade proposal to the United States to reduce recently imposed 30 percent tariffs and find alternative export markets to offset the impact, Trade, Industry and Competition Minister Parks Tau said on Tuesday.
Speaking at a news conference in South Africa's administrative capital Pretoria, he said the cabinet had approved a revised proposal based on a draft put forward in May and taking into account Washington's concerns.
Along with negotiations with the US, the government is implementing a five-point strategy to mitigate the impact, including diversifying exports to alternative markets and providing a package of economic support measures to affected companies and workers, Tau said.
The Minister noted that the target markets are Asia and the Middle East, and the African Continental Free Trade Area is being used to deepen intra-African trade and strengthen regional resilience.
“We are targeting these markets because we see growing demand, ongoing negotiations and a positive attitude towards South African products. Diversification is also aimed at protecting rural livelihoods and sustainable agricultural growth for our people,” the minister said. –0–
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