South Africa exports to US at risk pending programme review | Fin24
 
  • Another VAT hike?

    Absa warns that govt may again announce an increase in value added tax in next month's Budget.

  • SA Revenue Service

    The tax agency says a unit that tackles illicit financial flows has recovered R2.6bn since April 2019.

  • State Capture Inquiry

    Former Eskom chairperson Zola Tsotsi says Tony Gupta threatened to have him removed.

Loading...

South Africa exports to US at risk pending programme review

Oct 28 2019 13:25
Prinesha Naidoo

South African exports to the US are at risk pending a review of the country’s eligibility for a preferential-trade programme.

The US Trade Representative lodged the review of the nation’s duty-free access to the US market under the so-called Generalized System of Preferences, its oldest and largest trade-preference program for the world’s poorest economies, due to concerns with copyright protection and enforcement, it said in a statement Friday.

Trade in goods and services between South Africa and the US was R275bn in 2018, according to US government data.

Failure to comply with US could see South Africa lose preferential market access under the GSP and the African Growth and Opportunity Act, which allows most sub-Saharan African countries duty-free access to the US market for more than 6,000 products.

NEXT ON FIN24X

 
 
 
 

Company Snapshot

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote

Loading...