<\/p>\n
President Cyril Ramaphosa said the outcome of the US midterm elections signals a shift in the geopolitical landscape that could open the way for a reset in Pretoria\u2019s strained ties with Washington.<\/p>\n
America\u2019s Democratic Party swept both chambers of Congress in Tuesday\u2019s vote in an election landslide that amounted to a rejection of President Donald Trump\u2019s policies. The rand was among the best-performing currencies in the world tracked by Bloomberg on Wednesday, rising around 1% against the US unit to 16.46 per dollar.<\/p>\n
\u201cI do think that this is going to introduce a new era in world relations,\u201d Ramaphosa said as he cast his vote in municipal elections in Johannesburg.<\/p>\n
\u201cWe\u2019re hoping that, on a bilateral basis, there will be a coming together of minds, where we will find a proper path forward on geopolitics as well as on trade matters and investment matters.\u201d<\/p>\n
Read:
What is SA\u2019s next move after Agoa suspension?
SA\u2019s Agoa exit is not the end of US market access
Agoa exit puts SA citrus and US supply-chain jobs at risk<\/p>\n
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South Africa\u2019s relations with the US have deteriorated since Trump returned to the White House last year. He quickly froze US assistance to South Africa, falsely claiming the government is allowing a genocide of White Afrikaner farmers. Trump has also criticised the country\u2019s Black economic-empowerment laws, which were introduced to address inequalities created by apartheid.<\/p>\n
Earlier this week, the US announced plans to revoke South Africa\u2019s access to a duty-free trade pact under the African Growth and Opportunity Act. US Trade Representative Ambassador Jamieson Greer said the decision was taken because of unspecified \u201cconcerning and pervasive practices\u201d that he said undermine American trade and investment, and pose a threat to US national security.<\/p>\n
America ranks as South Africa\u2019s third-biggest trading partner, after China and the European Union. Bilateral trade between South Africa and the US last year was $24.1 billion \u2014 less than half the $55.6 billion of commerce with China, according to data compiled by Bloomberg.<\/p>\n
Read:
Democrats secure control of Congress in sharp rebuke of Trump
South African businesses see \u2018minimal\u2019 impact of Agoa exclusion<\/p>\n
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\u201cExclusion from Agoa is indeed a negative for us,\u201d Ramaphosa said in remarks broadcast on Johannesburg-based eNCA. Still, South Africa\u2019s trade relations with the US don\u2019t only centre on the duty-free pact, the president said. Agoa exports account for about 10% of total shipments to America, according to South African government data.<\/p>\n
\u201cWe also have trade dealings with the US on a variety of products, which are outside Agoa,\u201d Ramaphosa said. \u201cOur trade relations with the US continue, and we want it to get even better through bilateral dealings.\u201d<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Ramaphosa #sees #hope #USSA #relations #Democrats #election #sweep<\/p>\n","protected":false},"excerpt":{"rendered":"
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