TRADE |
South Africa's Trade with China Surges After Duty-Free Deal
South African exports to China are climbing under a new duty-free arrangement, as Pretoria prepares for the possible loss of US trade benefits and Chinese carmaker Chery commits to local production.
Johannesburg, South Africa. South Africa's trade with China has surged following a duty-free deal, strengthening ties with the country's largest trading partner at a time of uncertainty over access to the US market.
President Cyril Ramaphosa has said South Africa must prepare for the potential loss of US trade benefits, making diversification of export markets a national priority.
Manufacturing follows trade
In a related development, Chinese carmaker Chery has selected the Omoda C4 as the first vehicle it will build in South Africa, a boost for the country's automotive industry and local jobs.
At home, the government has revived fuel levy cuts, saying stronger public finances have created room to ease costs for households and businesses.
Balancing partners
Economists caution that South Africa must ensure growing trade with China includes higher-value goods, not just raw materials, so the benefits translate into factories and jobs.
Key Points
- Trade with China surges after duty-free deal
- Possible loss of US trade benefits
- Chery to build Omoda C4 locally
- Fuel levy relief revived