Opening South Africa's Market
President Nelson Mandela's government plans to open key industries rapidly to global competition, sharply reversing the former socialist leanings of Mandela's African National Congress. Trade & Industry Minister Trevor Manuel proposes to slash textile tariffs to half the levels allowed by the General Agreement on Tariffs & Trade within eight years while lowering duties on autos to 30%, instead of the 45% sought by carmakers. He also vows to cut export subsidies for manufactured products such as steel.
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