The SA Chamber of Commerce in the US (Saccusa) has expressed concern over the possible fallout from President Donald Trump’s threat to cut off funding to SA.
Trump at the weekend said he was concerned about SA's land policies and felt “certain classes of people” in SA were being treated “very badly”. He called for an inquiry.
Chamber president Neil Diamond said the potential revocation of African Growth and Opportunity Act (Agoa) benefits would significantly affect SA businesses, leading to job losses and economic instability.
“The US is one of SA’s most significant trade partners, with Agoa playing a crucial role in facilitating trade between the two economies. SA exported more than $6.5bn (R123.2bn) worth of goods to the US under Agoa in 2024, supporting key industries such as automotive manufacturing, agriculture and mining.
“The US obligated nearly $440m (R8.3bn) in assistance to SA in 2024, supporting economic, healthcare and social initiatives. Any potential withdrawal of the support, along with threats to review trade agreements such as Agoa, could significantly impact critical sectors and communities reliant on the partnerships.”
Diamond said SA’s continued eligibility under Agoa is critical to sustaining bilateral trade, supporting thousands of jobs and fostering economic development.
Deploy constructive dialogue to address concerns, pleads SA business chamber in US on Trump call
‘Potential revocation of African Growth and Opportunity Act benefits would significantly affect SA businesses, leading to job losses and economic instability’
Image: Supplied/SACCUSA
The SA Chamber of Commerce in the US (Saccusa) has expressed concern over the possible fallout from President Donald Trump’s threat to cut off funding to SA.
Trump at the weekend said he was concerned about SA's land policies and felt “certain classes of people” in SA were being treated “very badly”. He called for an inquiry.
Chamber president Neil Diamond said the potential revocation of African Growth and Opportunity Act (Agoa) benefits would significantly affect SA businesses, leading to job losses and economic instability.
“The US is one of SA’s most significant trade partners, with Agoa playing a crucial role in facilitating trade between the two economies. SA exported more than $6.5bn (R123.2bn) worth of goods to the US under Agoa in 2024, supporting key industries such as automotive manufacturing, agriculture and mining.
“The US obligated nearly $440m (R8.3bn) in assistance to SA in 2024, supporting economic, healthcare and social initiatives. Any potential withdrawal of the support, along with threats to review trade agreements such as Agoa, could significantly impact critical sectors and communities reliant on the partnerships.”
Diamond said SA’s continued eligibility under Agoa is critical to sustaining bilateral trade, supporting thousands of jobs and fostering economic development.
Donald Trump to cut off funding for South Africa, cites concern over land policies
He said any deterioration in relations, particularly involving economic assistance and trade agreements, could have widespread implications for SA and US businesses.
“While SA and the US remain committed to constructive engagement as international partners, Saccusa urges all stakeholders to continue diplomatic engagement and ensure policy discussions are based on finding amicable solutions. The government has previously addressed similar claims, highlighting that land reform efforts are carried out within the framework of the law and constitutional commitments.”
As SA holds the G20 presidency before the US assumes the role, the business chamber emphasised the need for diplomacy and constructive dialogue to strengthen economic ties and address concerns through proper channels.
“We encourage SA to pursue diplomatic solutions to prevent any unexpected action from the White House that could negatively impact trade and investment relations.”
Saccusa said it remains committed to advocating for the interests of SA businesses in the US and fostering a strong, mutually beneficial trade relationship between the two nations.
“We call on business leaders, policymakers and diplomatic representatives to engage in fact-based discussions that support long-term economic stability and collaboration.”
TimesLIVE
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