Pretoria – President Cyril Ramaphosa has ruled out imposing retaliatory trade tariffs on the United States after Washington slapped a 30 percent duty on South African goods.
Speaking in the National Assembly, Ramaphosa said South Africa would pursue negotiations with the US while also encouraging local companies to diversify their markets. “We negotiate with the United States but at the same time we encourage our companies to use this as an opportunity to start seeking out other markets,” he told MPs.
The president faced pressure from the EFF, which questioned why South Africa had not responded to the tariffs with its own measures while expanding trade with BRICS partners. Ramaphosa said the government could not risk a trade war that might threaten the jobs created by the 600 US companies operating in South Africa.
He was also asked about the state of the Postbank, which has been struggling since losing its service contract with the South African Social Security Agency (SASSA). The bank has yet to meet all the requirements for a full banking licence, particularly around card management systems and compliance standards. Ramaphosa said governance and financial stability remained its immediate challenges, but capitalization would be considered once it is authorized to operate as a bank.
Debate in Parliament also turned to the size of the executive. Opposition MPs asked whether deputy minister posts could be scrapped to cut costs. Ramaphosa said while he has long advocated for a leaner Cabinet, the outcome of the recent elections and the need for a government of national unity made that difficult.
On gender-based violence, Ramaphosa announced that the National Council against Gender-Based Violence will be established by April next year.
Discussion about this post