The JSE closed weaker on Thursday on increased risk-off sentiment following US President Donald Trump’s threat of higher tariffs on car imports into the US raised the possibility of escalating global trade tension.The latest development followed Trump expressing dissatisfaction at the progress of the Chinese trade talks, despite China announcing reduced tariffs on certain imports from the US.Gold shares found favour on a firmer gold price, which rose 1% on the news that Trump had cancelled his proposed Singapore meeting with North Korean leader Kim Jong-un in June.The gold price was 0.93% up at $1,305.45 an ounce at the close.At the same time, the Dow was 0.96% lower as global automotive companies came under pressure. Trump is asking for new tariffs of as much as 25% on automobile imports, according to those familiar with his request, FxPro analysts said. Trump’s action elicited strong reaction from German industry spokespeople, with Daimler and Volkswagen (VW) shares falling more t...
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