International Relations Minister Ronald Lamola has issued a stern warning to South Africans to brace for potential economic repercussions as the US Trump administration weighs its next moves. This caution follows reports suggesting that President Trump is contemplating removing South Africa from the international payment system SWIFT, a move that could significantly cripple the country’s economy.
Amid heightened tensions, Lamola noted that while South Africa has been subject to various retaliatory measures from Trump, including harsh tariffs, the proposed removal from SWIFT remains uncertain and could be mere speculation. “What I’ve read in the media is what is alleged could be the possible outcome of those investigations and processes. But on our side, there is nothing formal that has said we will switch off the system,” he stated during a media briefing.
The ongoing volatility of the US-South Africa relations is drawing mixed emotions from Lamola, who described the partnership as “robust but cordial.” He expressed frustration at the unpredictability surrounding the Trump administration’s policies, which not only affect South Africa but have implications for countries worldwide. “We don’t know what will be the outcome of the engagement. But what we will do is to continue to engage with the hope for positive outcomes,” he said.
Lamola elaborated on the current talks with the US regarding a contentious 30% tariff imposed on South African goods, acknowledging the significant ambiguity that clouds their future. “We have to prepare ourselves to live with the current tariffs; these are the consequences we must face,” he explained.
Amidst this grim landscape, Lamola also shared a glimmer of hope for South Africa. He urged citizens to view the ongoing challenges as an opportunity to cultivate resilience and self-sustainability within the nation. “This can be seen as creating difficulty; however, it is also an opportunity for us to build our internal capabilities and develop our industries. Some of the industries we have today were built under sanctions,” he noted.