South African President Ramaphosa Seeks Better US Tariff Deal Soon

South African President Cyril Ramaphosa announced that negotiations with the United States on a better tariff deal have progressed to "text-based" discussions, indicating significant advancement towards an agreement. The talks aim to reduce the 30-percent import tax imposed by the Trump administration, the highest in sub-Saharan Africa, with hopes to conclude an agreement soon, though exact timing remains uncertain. Ramaphosa's statements came during a state visit to Switzerland, a country also striving to negotiate lower US tariffs, currently at 39 percent. Swiss President Karin Keller-Sutter expressed cautious optimism, noting that the final decision rests with the US President and patience may be necessary. Ramaphosa highlighted that the tariff imposition has encouraged South Africa to diversify its trade partnerships beyond the US. Additionally, South Africa and Switzerland have signed memorandums of understanding on economic cooperation, reflecting efforts to strengthen trade ties amidst these challenges.