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US-China tit-for-tat trade war sees investors turning to safe havens

The JSE All-Share index weakens to more than two-month lows.

Global markets started the week in the red, following US President Donald Trump’s unexpected decision to levy 10% import tariffs on the remaining $300 billion worth of Chinese goods that had not been affected by tariffs. He reasoned that China was taking too long to come to the trade deal party. This led to retaliatory action by the Chinese, as they’ve decided to halt all US agricultural imports. 

This tit-for-tat has sent investors running out of equities and storming into safe-haven assets. The local currency also suffered, trading around R14.88 against the dollar.

Nompu Siziba discusses the latest happenings in the markets with Makwe Masilela, the chief investment officer at Makwe Fund Managers. 

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