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South Africa exports vehicles worth about $1.9 billion every year, many to the United States under a trade deal now in jeopardy as President Donald Trump piles pressure on the country.
“I don’t think that South Africa has got a chance of the renewal” of the African Growth and Opportunity Act, said Neil Diamond, president of the South African Chamber of Commerce in the United States.
Known as AGOA, the trade deal offers preferential access to the US market for many African countries. The arrangement means Washington charges no tariffs on cars imported from South Africa.
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SOUTH AFRICA RATTLE AUTOMAKERS
That deal has bolstered the South African auto industry. Motor vehicles account for 22 percent of South Africa’s exports to the United States, worth $1.88 billion – behind only precious metals, according to government statistics.
NEWS IN A MINUTE: DONALD TRUMP’S THREATS TO SOUTH AFRICA RATTLE AUTOMAKERS
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