The South African economy and financial markets had to contend with acute domestic and international uncertainty over the past two weeks.
Globally, US President Donald Trump first announced far steeper tariff increases than was widely expected, with a 10% general tariff hike on imports supplemented by significantly higher “reciprocal” tariffs on US imports from many countries. These “reciprocal” tariffs were subsequently, and abruptly, postponed for 90 days. This excludes Chinese imports, on which tariffs were hiked even further, following retaliatory tariffs imposed on Chinese imports from the US. (Several specific tariff hikes imposed earlier also remain in place.)..
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