SARB Warns US Tariffs Threaten Growth

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The South African Reserve Bank warned that new US tariffs and the end of the African Growth and Opportunity Act could cut 2026 growth by 0.4 percentage points and cost up to 40,000 jobs. Tariffs on vehicles, parts, and agricultural exports threaten competitiveness and rural employment. The economy grew 0.8% in Q2 2025, with full-year growth expected around 1%. SARB urged structural reforms, trade diversification, and productivity improvements to mitigate risks and support sustainable growth.