News 09:00

BULLETIN 4 April 9 am

Good morning. I am……..

In this bulletin:

# The EFF says South Africa must align regional markets against the US tariffs
# Cosatu is concerned about the impact of the tariffs on the country
# And South Korea’s highest court upholds president Yoon Suk Yeol’s impeachment

# The EFF says the so-called reciprocal tariffs by the US on South Africa and other countries is an extractive mechanism designed to coerce sovereign nations into subjugation under America’s economic dominance. President Donald Trump has imposed a 30-percent tariff on South African exports to the US. The EFF says engaging in retaliatory tariff wars will only serve to entangle economies further in the web of America’s economic manipulation. It adds that government should be focused on diversifying the markets and investing in regional value chains.

Meanwhile, Cosatu says the 30-percent tariff will have a devastating impact on local companies and threaten jobs. US president Donald Trump announced global baseline tariffs of ten percent, with rates even higher for 60 countries including South Africa. Cosatu’s, Matthew Parks, says this requires expedited discussions between the South African and US governments and a mutually beneficial reset of relations, underpinned by healthy and expanding two-way trade and investment opportunities:

# AfriForum says it has instructed its legal team to approach the Supreme Court of Appeal, regarding the excessive increase in electricity tariffs that the Mogale City Municipality introduced last year. Last week, the Gauteng High Court in Pretoria dismissed AfriForum’s application for leave to appeal. AfriForum’s, Deidré Steffens, says in the first court ruling in February, the court ruled in the municipality’s favour, arguing that the National Energy Regulator of South Africa be added as a party to the case:

# South Korea’s Constitutional Court has unanimously voted to uphold the impeachment of president Yoon Suk Yeol. In December last year, he imposed martial law which triggered the country’s worst political crisis in decades and led to Parliament voting to impeach him. In delivering the verdict, Justice Hyung-bae Moon said Yoon’s exercise of national emergency powers was not justified, and his actions inflicted serious damage to the country’s stability. Now that Yoon is impeached, a snap election must be held in 60 days.

# Soccer: Orlando Pirates head coach José Riveiro will step down from his position at the end of the season. The Spaniard has decided not to renew his three-year contract, which expires at the end of the season. Riveiro has secured three MTN8 titles and two Nedbank Cups for the Buccaneers. Pirates are currently in the semifinals of the Nedbank Cup and in the quarterfinals of the CAF Champions League. Pirates chairman, doctor Irvin Khoza, says while they wanted to extend Riveiro’s contract, they fully respect his decision.

# And the financial indicators: The dollar trades at 18-rand-75-cents and the euro at 20-rand-79-cents. One British pound costs 24-rand-56-cents and Bitcoin trades at 82-thousand-624-dollars. Gold sells at three-thousand-99-dollars-10-cents a fine ounce and Brent crude oil is quoted at 69-dollars-15-cents a barrel.

Stay tuned for more news………….