00:00Trade experts and economists say South Africa's exclusion from AGOA, a preferential tariff
00:06agreement with the United States, will not spell doom for the country.
00:09The African Growth and Opportunity Act has been important for agricultural products and
00:13the automotive industry.
00:15But they say only about 10 percent of South Africa's exports to the U.S. are currently
00:20subject to AGOA, representing about 1 percent of its total global exports.
00:25The total jobs figures we've seen from various economists has been about 3,000 jobs, at
00:30most 10,000.
00:31So it's not an economic implosion, it's not the end of life as we know it, in an economy
00:35of 70 million workers.
00:37But for those communities who feel the pinch, for those workers who may lose their jobs,
00:41for those farmers who may lose contracts, it will be quite painful.
00:45President Soror Ramaphosa described the exclusion from AGOA as a setback, but said it also opened
00:50the door to negotiating a formal bilateral trade agreement with Washington.
00:54And the trading industry minister says Pretoria has 60 days to appeal the decision.
00:59What I don't understand, and which still gives me a serious problem, is to hear the argument
01:05that, well, South Africa wants to look into the next two years and see if it can appeal and
01:11the U.S. can reverse the decision.
01:13I think it's a waste of time.
01:15I don't think South Africa should spend time doing that.
01:18South Africa should spend time casting the net widely to look at new trading partners,
01:24and mutually beneficial.
01:25Because it's a political decision that has been made by the Trump administration.
01:30It's not a trade decision.
01:33Pretoria has been prepared for removal from AGOA because of its battered diplomatic ties with
01:38Washington over various domestic and international policy differences.
01:43The exclusion goes into effect on 1 January 2027.
01:47men.
01:47men.
01:48men.
01:48You
