SA and US trade representatives will meet later this month to continue talks on a possible trade deal.
The dialogue was opened during the recent visit by President Cyril Ramaphosa and his delegation to meet US President Donald Trump at the White House.
Presidential spokesperson Vincent Magwenya said during a media briefing on Thursday that the 31% tariffs that Trump planned to impose on SA exports would be included in the “more formal and substantive engagements”.
Trump paused the tariff increases he had planned to impose on countries around the world until July 9, so time is of the essence for SA.
Magwenya said the government was optimistic there would be a positive and mutually beneficial trade relationship arising out of the negotiations.
He said Ramaphosa believed SA was in a much better position after the US visit than before it as it had “opened the door for more engagements between our respective trade teams”.
SA submitted a trade package to US trade representative Jamieson Greer during his meeting with trade, industry & competition minister Parks Tau and agriculture minister John Steenhuisen. This was ahead of the meeting between Ramaphosa and Trump.
Magwenya said SA was awaiting a response to its proposal.
SA also lobbied to obtain a renewal of the African Growth & Opportunity Act (Agoa) before it expires in September. SA’s need for liquefied natural gas, which it could import from the US, was discussed.
Magwenya noted however that SA was ready to enter into a new trade relationship with the US in the absence of its continued participation in Agoa.
Ramaphosa will participate in the Group of Seven summit in Canada from June 14-17, where the focus will be on energy security.
Magwenya said there was no pressure for Ramaphosa to again meet Trump given their recent engagement.
Ramaphosa will travel to Brazil in July to attend the Brics summit.
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