Insights

Last week brought some tariff relief but also an escalation of the trade war between the US and China. Markets remain under pressure and big questions remain unanswered. It is still a time for cool heads.

The world changed last week, in ways we probably don’t fully understand yet. For now, the focus is on the market turmoil caused by US tariff announcements. Unfortunately, political uncertainty in South Africa also increased at the worst possible time.

Five years ago, the global economy was shaken by the Covid pandemic. Today it faces a new set of shocks as US President Trump seeks to upend the global trading system.