NOW Special Edition: Positioning for tariff turmoil

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In this special edition of Investec’s No Ordinary Wednesday podcast, we delve into the recent market turmoil following President Donald Trump's controversial tariff announcements, which led to a staggering $5 trillion loss in the S&P 500 in just two days. Investec Wealth & Investment International’s Chief Investment Strategist, Chris Holdsworth, and Investment Strategist, Osagyefo Mazwai discuss implications for the global and local economies, investment portfolios and the future of markets.

Podcast key moments:

00:00 – introduction
01:01 - What’s the Global Investment Strategy Group’s view on Trump’s strategy and how does it impact its risk score?
03:00 - Is this all bark and no bite on Trump’s behalf? Could Trump roll back any of the tariffs?
03:54 - Is there method in Trump’s madness? Could these tariffs play to his ambitions of boosting local manufacturing, reducing debt and improving the life of the majority of Americans?
05:55 - US recession fears are mounting, are these valid? What would the knock-on consequences be for global growth and earnings?
06:39 – Where are the opportunities for investors amidst the chaos?
07:50 - South Africa’s exposure to tariffs?
09:24 - What options does the South African government have when it comes to responding to the tariffs?
10:30 – The uncertainty with the government of national unity is weighing heavily on local markets. How will this play out?
12:17 - With all this uncertainty, how is Investec’s Global Investment Strategy Group positioned on South Africa?
13:30 - South Africa has strong trade ties with both the US and China. How could these tariffs affect the country’s trade balance?
14:22 - Should we be concerned about further rand weakness?
15:20 - With no end in sight to geopolitical tensions and global trade shifts, what is the outlook for the global economy over the next 12 months?

Read more on www.investec.com/now

Hosted by seasoned broadcaster, Jeremy Maggs, the No Ordinary Wednesday podcast unpacks the latest economic, business and political news in South Africa, with an all-star cast of investment and wealth managers, economists and financial planners from Investec. Listen in every second Wednesday for an in-depth look at what's moving markets, shaping the economy, and changing the game for your wallet and your business.
Chapters
  • 00:00 Introduction
  • 01:01 What’s the Global Investment Strategy Group’s view on Trump’s strategy and how does it impact its risk score?
  • 03:00 Is this all bark and no bite on Trump’s behalf? Could Trump roll back any of the tariffs?
  • 03:54 Is there method in Trump’s madness? Could these tariffs play to his ambitions of boosting local manufacturing, reducing debt and improving the life of the majority of Americans?
  • 05:55 US recession fears are mounting, are these valid? What would the knock-on consequences be for global growth and earnings?
  • 06:39 Where are the opportunities for investors amidst the chaos? 07:50 - South Africa’s exposure to tariffs?
  • 09:24 What options does the South African government have when it comes to responding to the tariffs?
  • 10:30 The uncertainty with the government of national unity is weighing heavily on local markets. How will this play out?
  • 12:17 With all this uncertainty, how is Investec’s Global Investment Strategy Group positioned on South Africa?
  • 13:30 South Africa has strong trade ties with both the US and China. How could these tariffs affect the country’s trade balance?
  • 14:22 Should we be concerned about further rand weakness?
  • 15:20 With no end in sight to geopolitical tensions and global trade shifts, what is the outlook for the global economy over the next 12 months?
8 Apr 2025 English South Africa Business · Investing

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