JOHANNESBURG (Reuters) - The South African government in the next few weeks will publish a paper outlining how it plans to put troubled state power utility Eskom on a path to long-term stability, the Department of Public Enterprises said on Saturday. FILE PHOTO: Men walk past electricity pylons as they return from work in Orlando, Soweto township, South Africa March 18, 2019. REUTERS/Siphiwe Sibeko Eskom, which supplies more than 90% of the power in Africa’s most advanced economy, is reliant on state bailouts to survive and has had to implement rolling power cuts. It reported a loss of 20.7 billion rand ($1.36 billion) in its most recent financial year. President Cyril Ramaphosa has proposed a bailout and restructuring, but it is not clear how this will be balanced with political sensitivity to job cuts nor whether it will be enough to fix Eskom’s problems. The department said its paper would clearly outline the government’s plan to make the struggling … [Read more...] about South Africa to publish Eskom plans in next few weeks
Import tariffs south africa
This article was originally published on ETFTrends.com. By Natalia Gurushina via Iris.xyz The continuation of the U.S.-China talks had a calming effect on the market despite the U.S.’s tariff hike on China. South Africa’s election results point to potential policy risks going forward. The markets are doing well despite the U.S. raising its tariffs on USD200B of Chinese imports from 15% to 25%. [...] Continue Reading Below Read more at ETFTrends.com > … [Read more...] about Tariff Hike on China: Now What?
WASHINGTON — President Trump’s tariffs were initially seen as a cudgel to force other countries to drop their trade barriers. But they increasingly look like a more permanent tool to shelter American industry, block imports and banish an undesirable trade deficit. More than two years into the Trump administration, the United States has emerged as a nation with the highest tariff rate among developed countries, outranking Canada, Germany and France, as well as China, Russia and Turkey. And with further trade confrontations brewing, the rate may only increase from here. On Tuesday, the president continued to tout his trade war with China, saying that the 25 percent tariffs he imposed on $250 billion worth of Chinese goods would benefit the United States, and that he was looking “very strongly” at imposing additional levies on nearly every Chinese import. “I think it’s going to turn out extremely well. We’re in a very strong position,” Mr. … [Read more...] about Trump’s Tariffs, Once Seen as Leverage, May Be Here to Stay
JOHANNESBURG/NAIROBI (Reuters) - At the edge of Nairobi’s Ngong Forest, thousands of used cars glitter in the hot sun on a dusty field, waiting for buyers. The Mobius II first generation SUV by Kenyan car maker Mobius Motors is seen in the company's show room in Nairobi, Kenya March 6, 2019. REUTERS/Baz Ratner Imported from Japan or the Middle East, they offer an affordable route to vehicle ownership in Kenya and have dominated the market for decades. That is an obstacle big carmakers must overcome if they are to crack Africa, a market promising rapid growth as trade tensions threaten sales elsewhere. African consumers also still need conventional engines just as demand in more traditional markets is curbed by restrictions on carbon emissions. Volkswagen, BMW, Toyota, Nissan and others have joined forces to lobby governments for steps that would reduce the imports that have made sub-Saharan Africa notoriously difficult terrain and allow local production to flourish. … [Read more...] about Auto giants battle used car dealers for Africa’s huge market
WASHINGTON – Which came first, the chicken or the trade war? Well before President Donald Trump began slapping tariffs on steel, aluminum and other imported goods, there was a deal with South Africa that gave U.S. chicken producers duty-free access to a market that had effectively been shut to them for years. But that trade deal, worth tens of millions of dollars to American businesses, now is being threatened by Trump’s metal tariffs. A group of senators from chicken-producing states — Republicans Roger Wicker of Mississippi and Johnny Isakson of Georgia and Democrat Chris Coons of Delaware — have detailed their concerns in a recent letter to Commerce Secretary Wilbur Ross. They cite a lawsuit in South Africa that aims to end duty-free imports of American chicken unless South Africa is exempted from Trump’s metal tariffs. The dispute illustrates the risk Trump runs by employing tariffs so aggressively. The president has wielded the import taxes — … [Read more...] about Trump’s tariffs coming home to roost, and Mississippi is crying fowl