News 07:00
BULLETIN 3 April 7 am
Good morning. I am……..
In this bulletin:
# Donald Trump announces new global tariffs including 30-percent on South African exports
# Minister Godongwana says it will be difficult for DA ministers to implement the budget
# And the EFF is consulting its lawyers over the passing of the budget
# US president Donald Trump has announced universal ten-percent tariffs on all imports into America, which will go into effect on Saturday. Certain countries will be hit with steeper tariffs based on US trade deficits. South African exports are among the worst affected, and will now face tariffs of 30-percent. China, the second top importer to the US behind Mexico, will now face a 54-percent tariff under the new policy. Trump says for decades America has been looted, pillaged, and raped by its trading partners:
# Finance minister Enoch Godongwana says the DA has drawn a line in deciding not to vote in favour of the 2025/2026 budget fiscal framework. The Rand and South African bonds stumbled on Wednesday evening, as the politics behind the budget raised the prospect of an unravelling of the government of national unity. Godongwana says it will be difficult for DA ministers to run programmes on a budget they opposed:
Meanwhile, the EFF says it will be consulting its lawyers to see if there are grounds to take the passing of the budget fiscal framework to court. The party has rejected a value-added tax increase, as proposed in the budget, and instead wants personal tax brackets to be adjusted for inflation, and for corporate and wealth taxes to be increased. EFF leader, Julius Malema, maintains that Parliament’s standing committee on Finance did not follow due process in adopting the budget framework report:
# Deputy president Paul Mashatile will deliver the keynote address at the inaugural Gauteng Investment Conference today in Johannesburg. The conference will focus on unlocking Gauteng’s economic potential as it supports president Cyril Ramaphosa’s goal of boosting economic growth above three-percent. It brings together government leaders, investors, and industry experts to discuss key sectors, including green energy, transport, and the digital economy. Trade, Industry, and Competition minister Parks Tau and Gauteng premier Panyaza Lesufi will also attend the conference.
# A Manhattan federal judge has permanently dismissed the criminal case against New York City mayor Eric Adams with prejudice. He was indicted in September last year on charges related to bribery, wire fraud, conspiracy, and soliciting campaign contributions from foreign nationals in exchange for political favours. Judge Dale Ho said his decision to drop the case permanently ensures that the Trump administration cannot use the indictment as leverage over Adams or the city of New York. The Justice Department called the case an example of political weaponisation.
# Golf: Top-ranked player on the Ladies European Tour, Cara Gainer, says she looks forward to competing in the Joburg Ladies Open, which tees off at the Modderfontein Golf Club today. The English professional makes her first appearance in the tournament since 2023. This year’s field includes defending champion Chiara Tamburlini from Switzerland, South Africa’s Casandra Alexander, and Lucie Malchirand of France. Gainer says she is looking forward to continuing her good start to the year:
# And the financial indicators: The dollar trades at 19-rand-82-cents and the euro at 20-rand-54-cents. One British pound costs 24-rand-58-cents and Bitcoin trades at 83-thousand-749-dollar-60-cents. Gold sells at three-thousand-152-dollars-30-cents a fine ounce and Brent crude oil is quoted at 73-dollars-25-cents a barrel.
Stay tuned for more news………….