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South African assets extend drop on tariffs and local politics

By Sfundo Parakozov JOHANNESBURG (Reuters) -South African assets fell further on Friday as investors worried about the impact of U.S. President Donald Trump's sweeping tariffs and the future of South Africa's coalition government.

South African financial assets, including the rand and stocks, continued to decline due to a combination of factors such as increased tariffs on certain exports to China, local political instability, and concerns over the country's economic growth. The rand weakened to its lowest level since late October, and the Johannesburg Stock Exchange's Top-40 index also saw a significant drop. The situation was exacerbated by the South African government's decision to maintain tariffs on Chinese electric vehicles, which led to retaliatory measures from China, affecting South African exports like beef and wine. Additionally, ongoing political tensions and the looming national elections have further contributed to the uncertainty and negative sentiment in the market.

Read the Full Reuters Article at:
https://www.msn.com/en-us/money/markets/south-african-assets-extend-drop-on-tariffs-and-local-politics/ar-AA1CiYYx