Naamsa CEO Mikel Mabasa South African motoring industry lobby body Naamsa has warned that US President Donald Trump’s plan to impose unilateral 30% tariffs on South Africa from 1 August could decimate the local vehicle manufacturing export industry. “This escalation in trade tensions poses a serious threat to one of South Africa’s most globally integrated…
The European Union will suspend retaliatory tariffs on goods from the United States that were scheduled to take effect on Monday. The EU hopes it can reach a trade deal with the Trump administration by the end of the month. “This is now the time for negotiations,” European Commission President Ursula von der Leyen told…
The flags of the European Union fly in front of the European Parliament. Philipp von Ditfurth | dpa | Picture Alliance | Getty Images President Donald Trump said Saturday the U.S. will impose a 30% tariff on goods from the European Union and Mexico that will take effect on Aug. 1. Trump revealed the new…
Walvis Bay — Walvis Bay Salt Holdings has strengthened its foot hold in Africa after shifting away from the United States (US) market following fresh tariffs introduced earlier this year by US president Donald Trump. The tariffs brought Namibia’s largest salt producer and exporter to the US to a complete standstill. Walvis Bay Salt Holdings…
Containers sit at the Port of Los Angeles, in San Pedro, California, U.S., July 8, 2025. Daniel Cole | Reuters U.S. President Donald Trump announced Tuesday that copper and pharmaceutical imports will face tariffs of 50% and as high as 200%, respectively. Following the news, the S&P 500, which hit multiple record closes last week,…
U.S. Treasury Secretary Scott Bessent speaks to reporters at the U.S. Capitol as Republican lawmakers struggle to pass U.S. President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., U.S., June 27, 2025. Elizabeth Frantz | Reuters Treasury Secretary Scott Bessent said Sunday that tariffs announced back in April will take…
A truck passes by shipping containers at the Port of Los Angeles. Mark Ralston | Afp | Getty Images A new wave of ocean freight from China is beginning to arrive at the Port of Los Angeles and Long Beach, an increased flow of shipping containers aiming to beat potential tariff increases. President Trump imposed…
China says it will sign a new economic pact with Africa that will get rid of all tariffs on the 53 African states it has diplomatic ties with – a move that could benefit middle-income nations as they prepare for tariff hikes on products entering the United States. The move, announced at a China-Africa co-operation…
In the ever-shifting theatre of global trade, two major powers have made their moves–one with threats, the other with opportunity. As Africa faces looming tariffs from the United States, China has chosen a different approach: opening its doors to all 53 African nations with which it has diplomatic relations. Announced at a recent China-Africa cooperation…
Commerce Secretary Howard Lutnick said Wednesday that U.S. tariff levels on Chinese imports will not change from their current levels, even as a trade deal between Washington and Beijing has yet to be finalized. Asked on CNBC’s “Money Movers” if the current U.S. tariffs on China are not going to change again, Lutnick replied, “You…
