Spare a thought for exporters and their calculators. The rate at which US tariff rates are changing is the stuff of accountancy nightmares.
As if international trade isn’t complicated enough, the past week has seen US reciprocal tariffs struck down by the US Supreme Court, and then a new 10% Trump tariff imposed – then increased to a 15% tariff. The latest 15% figure is a flat ‘balance of payments’ surcharge on almost all imports, including those from South Africa (so far as most people understand right now).
Significantly, the 15% tariff is only legally valid for 150 days, whereafter the US Congress would be required to extend it.
All of which calls to mind a recent comment from a well-placed source in the customs clearing space: “We are all waiting for the circus to get direction and conclusion.”
Rest assured the SABBEX team is watching this space as wide-eyed as possible, with a view to ensuring the best possible outcome.