South African President hopes to sign trade agreement with US “quite soon”
Kyiv • UNN
South African President Cyril Ramaphosa announced the finalization of negotiations on a trade agreement with the United States, which is expected to ease high tariffs imposed by the Donald Trump administration. The agreement could be concluded in the near future, affecting thousands of jobs in the automotive and citrus industries.
South African President Cyril Ramaphosa stated that negotiations on a new trade agreement with the United States are in their final stages and could conclude "soon." According to him, the country aims to ease the high tariffs imposed by the Donald Trump administration, UNN reports, citing Bloomberg.
"We look forward to concluding the agreement fairly quickly, and it could happen tomorrow, next week, next month. The timelines, when you're dealing with governments, always change," he said.
Ramaphosa, who was joined at a joint press conference by his Swiss counterpart Karin Keller-Sutter, said that negotiations with the US are now based on what he described as "progress towards a clear agreement."
Switzerland found itself in a similar situation, as most of its exports to the US are subject to 39% tariffs. Despite continuous government attempts to mitigate these restrictions, an agreement to reduce tariffs remains elusive.
During the joint press conference, journalists asked South African President Cyril Ramaphosa if he could offer advice to his Swiss counterpart on communicating with the US President, who had previously accused his government of "white farmer genocide."
"We exchange notes," Ramaphosa replied. "We exchange best practices."
Commenting on the situation in relations with the US, Federal Councillor Karin Keller-Sutter noted that negotiations are ongoing, but the final decision rests with the American president.
"Ultimately, the decision rests with the US President. So, perhaps, it just takes a little more patience," she said.
Earlier, Switzerland and South Africa confirmed their readiness to promote the modernization of the existing free trade agreement.
"We hope for rapid progress," Keller-Sutter emphasized.
According to the Swiss government, the trade volume between South Africa and Switzerland is approximately 6.25 billion Swiss francs (about 7.8 billion dollars). The basis of South African exports to Switzerland includes gold, platinum, wine, fruits, and nuts. In turn, South Africa most often purchases pharmaceutical products, industrial equipment, and watches from Switzerland.
Addition
Ramaphosa's visit to Switzerland is a direct result of a three-country tour of Southeast Asia, during which he attended a summit in Malaysia.
South Africa seeks to ease the high tariffs that President Donald Trump imposed on its exports to the US in August, which could potentially jeopardize thousands of jobs in the automotive and citrus sectors of Africa's most industrialized economy.