{"id":820329,"date":"2025-04-09T21:34:32","date_gmt":"2025-04-09T19:34:32","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=820329"},"modified":"2025-04-09T21:35:58","modified_gmt":"2025-04-09T19:35:58","slug":"huge-relief-as-trump-pauses-30-tariff-on-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/820329\/huge-relief-as-trump-pauses-30-tariff-on-south-africa\/","title":{"rendered":"Huge relief as Trump pauses 30% tariff on South Africa"},"content":{"rendered":"\n

US President Donald Trump has announced that all tariffs on Washington’s “worst offenders” list will be walked back to the standard 10% rate applied globally – except for China.<\/p>\n\n\n\n

Trump said that the walk-back or “pause” will apply for 90 days.<\/p>\n\n\n\n

Posting to social media, the US president said that more than 75 Countries had made contact with representatives of the United States to negotiate a “solution” to trade barriers.<\/p>\n\n\n\n

Due to this, he has authorised a pause on all tariffs exceeding 10% for the next three months.<\/p>\n\n\n\n

However, with China, the US has opted to enter into an all-out trade war after it retaliated against the tariffs that took effect on Wednesday.<\/p>\n\n\n\n

While all other tariffs will be reduced to 10%, the US will hike tariffs on China to 125%<\/p>\n\n\n\n

Following the implementation of a 34% tariff on Chinese imports, China retaliated by imposing an 84% tariff on US imports. Things escalated even further on Wednesday, with the US pushing the tariff up to 104%.<\/p>\n\n\n\n

“Based on the lack of respect that China has shown to the World\u2019s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately,” Trump said.<\/p>\n\n\n\n

“At some point, hopefully in the near future, China will realize that the days of ripping off the USA, and other countries, is no longer sustainable or acceptable.”<\/p>\n\n\n\n

The tariffs wreaked havoc on global markets on Wednesday, with various analysts and economists calling a surefire recession for the United States as a result.<\/p>\n\n\n\n

Arthur Kamp, Chief Economist, Sanlam Investments,\u00a0said that even if tariffs are scaled back towards the baseline increase of 10%, this whole scenario was a material jolt to the global trade system.<\/p>\n\n\n\n

Regarding the ongoing trade war with China, Kamp said that if this pattern continues, the implications would be dire.<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n\n\n\n

Some relief for South Africa<\/h2>\n\n\n\n

The walking back of tariffs, albeit temporarily, will come as relief to South Africa, which faced a 30% tariff on key exports to the United States.<\/p>\n\n\n\n

The tariffs were exacerbating local political volatility, putting extreme pressure on the rand.<\/p>\n\n\n\n

The rand hit its weakest level in history against the dollar on Wednesday, trading at R19.93 to the dollar before pulling back to around R19.84 by the close of business.<\/p>\n\n\n\n

Following the White House announcement, relief in the markets was immediate, with the rand recovering 2% to R19.34\/$.<\/p>\n","protected":false},"excerpt":{"rendered":"

US President Donald Trump has announced that all tariffs on Washington’s “worst offenders” list will be walked back to the standard 10% rate applied globally – except for China.<\/p>\n","protected":false},"author":10,"featured_media":819417,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[10849,3281],"class_list":["post-820329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-donald-trump","tag-tariffs"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/820329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=820329"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/820329\/revisions"}],"predecessor-version":[{"id":820333,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/820329\/revisions\/820333"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/819417"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=820329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=820329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=820329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}