South Africa faces Trump trade threat
Analysts warn the returning president’s support for protectionism is bad news for South African exporters
10 November 2024 - 08:24
True to the adage, “when the US sneezes, the entire world catches a cold”, world markets reverberated this week from Donald Trump’s trouncing of Kamala Harris in the bruising US election. And experts warn that Trump 2.0 could mean trade misery for South Africa — including expulsion from the well-established Agoa arrangement.
News of Trump’s victory hammered the rand and other emerging-market currencies on Wednesday, with the local currency seeing as much as 2.5% of its value erased. At one point it was trading at R17.82/$, but by Friday the rand had recovered to about R17.50/$...
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