Tap Into the $65B 'Shroom Boom'

People are rapidly discovering how mushrooms can enhance brain function, gut health, immunity, and more. The only thing holding them back? A simple way to grow them. Hypha Labs built a compact countertop device to solve exactly that.

US tariffs put 30,000 South African jobs at risk, officials say

MICHELLE GUMEDE
August 04, 2025

JOHANNESBURG (AP) -- U.S. reciprocal tariffs have put an estimated 30,000 jobs at risk, South African authorities said Monday, four days before a 30% U.S. tariff on most imports from South Africa kicks in.

South Africa was slapped with one of the highest tariff rates by its third-largest trading partner -- after China and the EU -- creating uncertainty for the future of some export industries and catapulting a scramble for new markets outside the U.S. Tariffs come into effect on Aug. 8.

In an update on mitigation measures, a senior government official warned that an estimated 30,000 jobs were in jeopardy if the response to the higher tariffs was "mismanaged".

"We base this on the ongoing consultations that we have with all the sectors of the economy from automotive, agriculture and all the other sectors that are going to be impacted," said Simphiwe Hamilton, director-general of the Department of Trade, Industry and Competition.

South Africa is already grappling with stubbornly high unemployment rates. The official rate was 32,9% in the first quarter of 2025 according to StatsSA, the national statistical agency, while the youth unemployment rate increased from 44,6% in the fourth quarter of 2024 to 46,1% in the first quarter of 2025.

In his weekly public letter on Monday, President Cyril Ramaphosa said that South Africa must adapt swiftly to the tariffs since they could have a big impact on the economy, the industries that rely heavily on exports to the U.S. and the workers they employ.

"As government, we have been engaging the United States to enhance mutually beneficial trade and investment relations. All channels of communication remain open to engage with the US," he said.

"Our foremost priority is protecting our export industries. We will continue to engage the US in an attempt to preserve market access for our products."

President Donald Trump has been highly critical of the country's Black-led government over a new land law he claims discriminates against white people.

Negotiations with the U.S. have been complicated and unprecedented, according to South Africa's ministers, who denied rumors that the lack of an ambassador in the U.S affected the result of the talks. The Trump administration expelled Ebrahim Rasool, South Africa's ambassador to Washington, in mid-March, accusing him of being a "race-baiting politician" who hates Trump.

International Relations Minister Ronald Lamola highlighted that even countries with ambassadors in the U.S. and allies of Washington had been hard hit with tariffs. However, Lamola confirmed that the process of appointing a replacement for Rasool was "at an advanced stage".

The U.S. accounts for 7.5% of South Africa's global exports. However, several sectors, accounting for 35% of exports to the U.S., remain exempt from the tariffs. These include copper, pharmaceuticals, semiconductors, lumber products, certain critical minerals, stainless steel scrap and energy products remain exempted from the tariffs.

The government has been scrambling to diversify South Africa's export markets, particularly by deepening intra-African trade. Countries across Asia and the Middle East, including the United Arab Emirates, Qatar, and Saudi Arabia have been touted as opportunities for high-growth markets. The government said it had made significant progress in opening vast new markets like China and Thailand, securing vital protocols for products like citrus.

The government has set up an Export Support Desk to aid manufacturers and exporters in South Africa search for alternate markets.

While welcoming the establishment of the Export Support Desk, an independent association representing some of South Africa's biggest and most well-known businesses called for a trade crisis committee to be established that brings together business leaders and government officials, including from the finance ministry.

Business Leadership South Africa said such a committee would ensure fast, coordinated action to open new markets, provide financial support, and maintain employment.

"U.S. tariffs pose a severe threat to South Africa's manufacturing and farming sectors, particularly in the Eastern Cape. While businesses can eventually adapt, urgent temporary support is essential," said BLSA in a statement.

Continue Reading...

Popular

Marjorie Taylor Greene Increases These 2 Stocks In Portfolio, Including This AI Name Up Over 100% YTD

Marjorie Taylor Greene has bought stocks multiple times in 2025 and her recent disclosure adds to one of the stocks that drew the biggest red flags in 2025.

These 3 Dividend-Yielding Stocks Could Outperform As High Fed Rates Spark $4.9 Billion Inflows: Expert

Expert highlights the top high divided yielding stocks and funds that investors could consider to seize the opportunity amid high Fed rates.

The Surprising New Date That Could Fuel the AI Boom - Ad

Trump's economic blueprint is about to go live, and the deadline is fast-approaching. A new federal plan could legally unlock $100 trillion in U.S. resources... and one $10 stock could lead the charge. Former hedge fund manager Whitney Tilson explains how to act now, before this hits the headlines.

Mark Cuban Praised His 'Hustling' Son, But Told Kids: 'Figure Out Who You Are, You Don't Need To Follow In My Footsteps'

Jake Cuban embarked on an entrepreneurial journey reminiscent of his father's early business ventures by starting a side hustle selling candy at his school.

Russia insists on achieving Ukraine goals despite Trump's ultimatum

Russia is open to peace with Ukraine, but achieving its goals remains a priority, Kremlin spokesman Dmitry Peskov said Sunday, days after U.S. President to agree to a ceasefire or .

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

Elizabeth Warren Has The Receipts: 'Bribery In Plain Sight' Funding Trump's Library

Several companies have donated to President Donald Trump's future presidential library. Senator Elizabeth Warren calls this potential "bribery in plain sight."

Back the Biotech Company Unlocking Mushroom Health Benefits for All - Ad

Functional mushrooms can boost mental, gut, and immune health-but people can't grow them at home. One company is making it easy with a patent-pending kitchen device. Think Nespresso, but for mushrooms. The functional mushroom market is projected to nearly double by 2030.

Drone attacks on oil fields in Iraq's Kurdish region shut down another facility

BAGHDAD (AP) — Drones targeted Wednesday, the latest in a series of attacks in recent days that have put several oil facilities out of commission.

After years of tough rules on liquids and footwear, US air travel may be on the cusp of a new era

NEW YORK (AP) — When limits on liquids were introduced at TSA checkpoints across the country in 2006, bins overflowed with bottled water, toothpaste, shaving cream and so much more. Nearly two decades later, travelers are much more accustomed to the “3-1-1” regulations" governing the size of the liquids they're flying with, but scenes of passengers guzzling a beverage before putting their bags through the screening machines are still common.

Investing Legend Hints the End May Be Near for These 3 Iconic Stocks - Ad

Futurist Eric Fry say Amazon, Tesla and Nvidia are all on the verge of major disruption. To help protect anyone with money invested in them, he's sharing three exciting stocks to replace them with. He gives away the names and tickers completely free in his brand-new "Sell This, Buy That" broadcast.

Colbert jokes about 'cancel culture' and has a very pointed message for President Donald Trump

Stephen Colbert returned for his first full program after that CBS was canceling his “Late Show” with some supportive late-night guests, a joke about cancel culture and an extremely pointed remark directed at President Donald Trump.

Texas AG claimed three homes as primary residence. Democrats are being probed for similar issue

WASHINGTON (AP) — Texas Attorney General Ken Paxton and his wife, Angela, are longtime owners of a $1.5 million house in a gated community outside Dallas. In 2015, they snapped up a second home in Austin. Then another.

What's inside Elon's building in Memphis will shock you - Ad

Inside Elon Musk's Memphis site lies a supercomputer built to power the world's first superhuman AI. It could make Elon a trillionaire - and new millionaires, too. With just $500, you could get in before the September 1st funding window closes.

Is Costco Stock Topping Out? Key Price Levels To Watch

Costco stock (COST) may have formed a long-term peak. Adhishthana Principles suggest the next move could define the stock's future trajectory.

Back This Medical AI Tech - Ad

You don't often find healthcare tech company valued at $4M. HeartSciences is an exception. With $75M invested, including R&D, clinical trials, and product development, their patented AI software is approaching FDA submission, a potential major inflection point.

Kraken Aims To Raise $500 Million, Second-Largest US Crypto Platform Eyeing A $15 Billion Valuation: Report

Cryptocurrency exchange, Kraken, is planning to raise $500 million in funding, a move that could push its valuation to $15 billion, according to a report published Tuesday.

Better Than Bitcoin? (Top Crypto for Less Than $1) - Ad

Over the past 15 years, Bitcoin has outperformed stocks, bonds, and every other asset you could've bought. 2025 is already shaping up to be another banner year, with Bitcoin recently hitting a new all-time high. But there's a better way to profit from this new crypto rally. Most people don't know about it... and yet it's returned over 1,000% in 4 months. This could be the #1 way to invest in crypto right now.

Nvidia's CEO Hits Beijing Like A Rockstar, Stirs Jensen-Mania In China

Nvidia CEO Jensen Huang receives a rockstar reception in Beijing during his most recent visit last week.

FDA Submission Expected This Summer - Invest Before It Happens - Ad

This company is making heart disease easier to detect with AI. Their tech has officially been designated a "Breakthrough" by the FDA. You now have an opportunity to get in at a potential inflection point.

US-EU trade deal wards off further escalation but will raise costs for companies, consumers

FRANKFURT, Germany (AP) — and European Commission President Ursula von der Leyen have that imposes 15% tariffs on most European goods, warding off Trump's threat of a 30% rate if no deal had been reached by Aug. 1.

Questions emerge about NYC gunman's mental health and his security-sensitive job in Las Vegas

LAS VEGAS (AP) — The man who stormed a Manhattan office tower with a gun, before killing himself, worked in the surveillance department of a Las Vegas casino, part of an industry built on watching for threats before they unfold.

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after October 23rd, it may be too late.

AMD Rises To 1-Year Highs, Crude Eyes $68: What's Moving Markets Tuesday?

Risk appetite took a breather Tuesday, with major U.S. stock indices retreating modestly from record highs as investors braced for a pivotal stretch of earnings and macro events.

Tap Into the $65B 'Shroom Boom' - Ad

People are rapidly discovering how mushrooms can enhance brain function, gut health, immunity, and more. The only thing holding them back? A simple way to grow them. Hypha Labs built a compact countertop device to solve exactly that.

What we know about a new health data tracking system being announced by White House

WASHINGTON (AP) — President Donald Trump's planned announcement Wednesday of a that would make it easier for patients to access their health records and monitor their wellness is raising a host of privacy concerns.

The Surprising New Date That Could Fuel the AI Boom - Ad

Trump's economic blueprint is about to go live, and the deadline is fast-approaching. A new federal plan could legally unlock $100 trillion in U.S. resources... and one $10 stock could lead the charge. Former hedge fund manager Whitney Tilson explains how to act now, before this hits the headlines.

Wisconsin man pleads guilty to smuggling lab equipment to Russian companies

MADISON, Wis. (AP) — A Wisconsin man pleaded guilty Tuesday to smuggling lab equipment to Russian companies in violation of trade sanctions the United States imposed after Russia invaded Ukraine.

Verizon Beats Expectations, Boosts Outlook — Here's Why Analysts Still See More Room To Grow

Verizon's Q2 results beat expectations, driven by wireless and broadband offerings. Analysts raised price targets, but net additions were lower.

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

Shiba Inu Could Surge 3,000% and Overtake Dogecoin by 2026, Say Analysts

Memecoin Shiba Inu (CRYPTO: SHIB) is expected to outperform Dogecoin (CRYPTO: DOGE) in the forthcoming bull cycle, as per analysts’ predictions.

Tesla Rivals BYD, Toyota, VW, GM Accused Of Faking Car Sales In China To Hit Targets: Report

Auto brands in China accused of inflating sales figures amid fierce competition to meet sales targets, leading to misjudgment of demand.

Back the Biotech Company Unlocking Mushroom Health Benefits for All - Ad

Functional mushrooms can boost mental, gut, and immune health-but people can't grow them at home. One company is making it easy with a patent-pending kitchen device. Think Nespresso, but for mushrooms. The functional mushroom market is projected to nearly double by 2030.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright priceactionea.net
Privacy Policy | Terms of Service