The South African Reserve Bank published a data story alongside the March 2026 Quarterly Bulletin examining how US tariffs introduced in 2025 reshaped South Africa’s trade flows. The analysis says the US share of South Africa’s exports fell to 7.1% in 2025 from 7.7% in 2024 and 7.9% in 2010, while Germany’s share rose to 8.0% from 7.6%, partly reflecting the impact of higher US trade tariffs. US tariffs hit South Africa’s value-added exports hardest, particularly vehicles and transport equipment. In the final quarter of 2025, export growth to the US slowed to 2.9% from 11.8% in the third quarter. The weakness was linked first to the 25% US tariff on passenger vehicles and parts introduced in April 2025 and then to a 30% reciprocal tariff introduced in August. Despite weaker exports to the US, South Africa’s overall exports were supported by growth in markets including Belgium and Zimbabwe and by higher commodity prices.
South African Reserve Bank 2026-05-05
South African Reserve Bank data story shows 2025 US tariffs slowed exports to the US and pushed Germany ahead as a destination
The South African Reserve Bank’s March 2026 Quarterly Bulletin analyzes how 2025 US tariffs reshaped South Africa’s trade, noting the US share of South African exports fell to 7.1% in 2025 while Germany’s rose to 8.0%. The study finds US tariffs, including a 25% duty on passenger vehicles and parts and a 30% reciprocal tariff, hit value-added exports hardest and slowed export growth to the US, although overall exports were supported by other markets and higher commodity prices.