The agreement was an acknowledgment of the significance of their trade for mutual economic development and the health of the global economy, the joint statement says.

While Trump’s 25% tariffs on auto imports will likely have a considerable impact on South Africa’s export-oriented auto-industry, it nevertheless has much scope to diversify and reorganize production for local markets.

El FMI ha pronosticado “incertidumbre” en la economía global, especialmente a raíz de la guerra arancelaria de Trump, pero parece ignorar las vías hacia la estabilidad y el crecimiento que se observan en el Oriente.

Trump is reportedly putting pressure on countries seeking bilateral agreements to avoid high tariffs, to cut down their trade with China

The IMF has predicted “uncertainty” in the global economy, especially in the wake of Trump’s tariff war, yet it seems to ignore the pathways towards stability and growth seen in the East

Donald Trump announced 50% additional tariffs on Chinese goods. In response, China announced an 84% tariff on all American goods, then on Wednesday, Trump escalated the tariffs to 125%.