SACU expresses concern with looming trade war

SACU expresses concern with looming trade war

The Southern African Customs Union (SACU) is concerned about the rise of protectionism and the looming trade war between the United States of America (USA) and its trading partners.
SACU’s chairperson of Council of Ministers, Kenneth Matambo raised this possible threat to the union’s economic growth when he opened their meeting on Wednesday in Gaborone, Botswana.
The global economy continues to show signs of recovery that will be of benefit to SACU’s growth.
The global economy plays a crucial role to SACU whose revenue collection relies mainly on imports.
US President Donald Trump has attacked China’s trade and industry policies and threatened to institute punitive tariffs on shipments from China.
China, in retaliation, has also threatened to hurt US imports.
A full-blown trade war between the USA and China is likely to damage the global economy.
SACU has urged the parties involved to engage peacefully to calm the situation and avoid a global trading crisis that might affect SACU.
SACU Heads of State and Government are in Gaborone, Botswana for the sixth summit starting on Friday.
Representing Namibia at the summit includes Trade and Industry Minister Tjekero Tweya, whose ministry is key to Namibia and SACU relations.