News 11:00

BULLETIN 1 August 11 am

Good morning. I am……..

In this bulletin:

# The DA criticises government for failing to secure a trade deal with the US
# Solidarity believes a trade deal is still possible
# And motorsport, Max Verstappen confirms he is staying at Red Bull next year

# The DA says the commencement of 30-percent tariffs on South African goods and produce exported to the US is a devastating outcome for the country. US president Donald Trump signed an executive order last night, modifying tariffs to over 60 countries, including increasing Canada’s tariffs from 25-to-35-percent. The DA’s Toby Chance says both the Departments of Trade, Industry and Competition, and International Relations and Cooperation, should hang their heads in profound shame for failing to secure a trade deal:

Meanwhile Solidarity believes a trade deal is still possible. The Department of Trade, Industry and Competition has announced a set of measures in response to the tariff hike, including the establishment of an export support desk. Solidarity’s Jaco Kleynhans says they will send a framework for a trade agreement to president Cyril Ramaphosa and Trump today:

# Eskom welcomes the accelerated energy market reforms, with the opening of the pre-qualification tender for the procurement of Independent Transmission Projects. The initiative aims to expand the country’s transmission infrastructure, with a target of building over 14-thousand-kilometres of new transmission lines by 2032. The National Transmission Company of South Africa is expected to lead the 440-billion-rand project. Eskom’s Dan Marokane says this will deliver greater competition and facilitate the transition from high-carbon to low-carbon sources of energy.

# Motorsport: Four-time reigning world champion Max Verstappen has confirmed he will remain with Red Bull for the 2026 Formula One season. The 27-year-old Dutchman, who is contracted to Red Bull until 2028, was linked with a potential move to Mercedes next year. Speaking ahead of this weekend’s Hungarian Grand Prix, Verstappen says his intention was always to remain with the team next year, especially as F1 enters a new technical regulation era:

# The financial indicators: The dollar trades at 18-rand-21-cents and the euro at 20-rand-82-cents. One British pound costs 24-rand-4-cents and Bitcoin trades at 115-thousand-and-28-dollars. Gold sells at three-thousand-291-dollars-31-cents a fine ounce and Brent crude oil is quoted at 71-dollars-48-cents a barrel.

# And finally: The minister in the Presidency for Women, Youth and Persons with Disabilities, Sindisiwe Chikunga, is hosting a Women Trade Intervention Dialogue at the official launch of 2025’s Women’s Month at the Sandton Convention Centre in Johannesburg today. Held under the theme ‘Building Resilient Economies for All,’ the event will spotlight informal economic support, green energy, and investment in key sectors. Chikunga will also lead a round-table discussion on de-risking women’s financial inclusion and accessing African Continental Free Trade Area opportunities.

Stay tuned for more news………….