Yokohama: South Africa's President Cyril Ramaphosa on Thursday emphasized the importance of market diversification in response to US tariffs, during his address at the Japan summit.

According to Anadolu Agency, Ramaphosa highlighted the impact of recent US tariff actions on African goods, stressing the urgency for diversifying export markets. He delivered these remarks at the 9th Tokyo International Conference on African Development (TICAD 9) in Yokohama, which gathered representatives, including presidents, prime ministers, and foreign ministers from nearly 50 African nations.

Ramaphosa urged Japan to support "tariff cooperation to ease market access for African goods," as stated in a readout by the South African government. Currently, South African goods face a 30% tariff imposed by the US, underscoring the need for new market opportunities.

He further expressed South Africa's intent to enhance intra-African trade while establishing itself as a continental industrial hub for Japanese and global firms to export into Africa. Ramaphosa called for partnerships in infrastructure, energy, and digital development through blended finance, emphasizing that "Africa is not seeking aid. It is seeking partners."

Ramaphosa concluded by asserting Africa's role in shaping the global economic landscape, rather than merely reacting to uncertainties and changes in trade dynamics.