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Budget negotiations and Trump tariffs spark rand's decline amidst political turmoil

The South African rand experienced a decline due to a combination of factors including ongoing budget negotiations, the potential reimposition of tariffs by former U.S. President Donald Trump, and political instability within South Africa. The uncertainty surrounding the budget, particularly the possibility of tax hikes or spending cuts, has contributed to investor caution. Additionally, Trump's comments about reintroducing tariffs on South African goods if he were to return to office have added to the economic pressures. Domestically, the political landscape is fraught with tension as the African National Congress (ANC) faces internal strife and public discontent over governance issues, further exacerbating the rand's volatility. This confluence of events has led to a weakened rand, reflecting broader economic and political challenges in South Africa.

Read the Full IOL Article at:
[ https://www.msn.com/en-za/politics/government/budget-negotiations-and-trump-tariffs-spark-rand-s-decline-amidst-political-turmoil/ar-AA1BY1tv ]