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Yellen Touts Deeper Ties With South Africa to Help Boost Trade

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Janet Yellen and Enoch Godongwana on Jan. 26
Janet Yellen and Enoch Godongwana on Jan. 26Photographer: Waldo Swiegers/Bloomberg

The US is seeking to deepen its economic integration with South Africa in pursuit of policies to diversify global supply chains, US Treasury Secretary Janet Yellen said.

Closer ties with nations that share the US’s economic values will help promote so-called friendshoring, in which allies cooperate on manufacturing and sourcing raw materials, Yellen said at a meeting with South African Finance Minister Enoch Godongwana on Thursday. Her remarks come in a week in which South Africa defended its neutral stance in Russia’s war with Ukraine — in the face of US calls for a harder line — and before the country conducts naval exercises with Russia and China’s military next month.