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eNCA
2 hours ago
- eNCA
US Trade Policy Risks Long-Term Isolation, Expert Warns
The United States' increasingly aggressive trade posture under successive administrations may leave lasting scars on global trade relations, potentially isolating the world's largest economy. That's the view of global trade expert Donald Mackay, who warns that the ripple effects of punitive tariffs could take decades to repair. Speaking to eNCA, Mackay, Director at XA Global Trade Advisors, said that over the past few years, the US has systematically alienated many of its trading partners. 'What the US has done is effectively 'Brexiteered' itself from much of the world. There are very few countries it hasn't managed to antagonise,' he said. Mackay cautioned that this trend is driving other nations to forge new trade alliances, shift investment strategies, and reduce their reliance on the US. While the full impact will take time to unfold, he believes the long-term consequences could see the US increasingly isolated in the global economy. Tariffs Likely Here to Stay While the upcoming US election may introduce political change, Mackay doubts it will lead to a major reversal in trade policy—regardless of who takes the White House. He pointed to recent history for context: 'President Trump imposed a 25% tariff on steel and aluminum in his first term. When President Biden took over, he left those tariffs in place. In fact, the Biden administration went further—introducing a 100% tariff on Chinese electric vehicles and launching the Inflation Reduction Act, which is the world's largest subsidy programme.' According to Mackay, both Democrats and Republicans appear aligned in their more protectionist approach, making it unlikely that tariffs will be significantly rolled back in the near future. Finding New Markets Not So Simple For countries like South Africa that have traditionally depended on US markets, the outlook is fraught with uncertainty. 'Finding new markets is not just about geography, it's about margin,' Mackay explained. 'You have to find a buyer willing to pay what you were earning in the US. And even if you do, you'll face pushback from local competitors in that new market.' He added that navigating new regulatory environments, building distribution networks, and understanding consumer preferences also complicate the process. 'These are not impossible problems, but none of them are easy,' he said. With global trade at a crossroads, analysts warn that volatility will remain a defining feature of the economic landscape in the years ahead.
eNCA
a day ago
- eNCA
Despite Economic Strain, Over 80% of South African Tenants in Good Standing
Amid soaring living costs, high interest rates, and stubborn unemployment, South African tenants are defying the odds. More than 80% remain in good standing on their rent, according to the latest Residential Rental Monitor from the TPN Credit Bureau. The report shows that 83% of tenants fulfilled their full rental obligations in the first quarter of 2025, with just 17% falling short—either partially or entirely missing payments. This performance marks a continued improvement from the previous quarter, reflecting the resilience and commitment of households to secure their accommodation despite economic uncertainty. 'Tenants have shown strong intent to prioritise rent, which in turn benefits landlords with improved cash flow,' said Waldo Marcus, Managing Director of TPN by MRI Software, in an interview with eNCA. Approximately 40% of South Africans currently rent their homes. Marcus highlighted that proper tenant vetting and consistent rental collection processes have been critical to the sector's performance. Rental Market Outlook: Opportunities for Investors Despite macroeconomic headwinds, Marcus says the rental property market remains a sound investment, though performance varies significantly across regions and income bands. Higher-end rental segments, particularly those priced above R12,000 per month, have seen stronger year-on-year growth, with rental escalations reaching up to 5.68%. In contrast, lower-value rentals have struggled, both in terms of payment reliability and escalation potential. 'Investors managing well-maintained properties and engaging positively with tenants tend to see better returns,' Marcus noted. 'Location and rental value band remain key factors.' The Western Cape continues to lead in rental growth, although recent quarters have shown a moderation, signalling a market adjustment after several years of strong performance. Advice for Landlords and Tenants With South Africans cautious about entering the property market due to high home prices and stricter lending requirements, demand for rentals is expected to remain strong. Marcus urged landlords to balance the need for rental increases with the value of retaining consistent, reliable tenants. 'Hiking rent too aggressively can backfire. A paying tenant is an asset in this market.' For tenants, he emphasised the long-term importance of a clean payment history. 'A solid rental track record not only keeps a roof over your head, it also strengthens your credit profile and opens the door to future homeownership.'
TimesLIVE
4 days ago
- TimesLIVE
Gauteng premier removes and reshuffles several heads of department after damning report
Gauteng premier Panyaza Lesufi has removed and reshuffled several heads of department after a damning report that revealed about R1.8bn in budget underspending, including missed service delivery performance targets. Lesufi said some heads of departments had missed their performance targets. 'We took serious exception that with the challenges we are facing of service delivery we cannot afford departments that are missing performance targets. We also found some audit outcomes which indicated some departments are not performing ideally. Within that context, I've taken a decision to reshuffle and reset heads of departments and remove other heads of departments from their responsibilities,' he said. Lesufi announced the changes on Sunday, alongside the release of newly concluded forensic investigation reports. These reports, finalised by the provincial forensic audit unit in the office of the premier, form part of Gauteng's broader commitment to transparent and accountable governance. On June 24, the premier disclosed the outcomes of 47 forensic reports. The HOD changes announced were: Lesufi also appointed acting HODs in several departments: Lesufi said they are in the recruitment process for permanent appointments. Sunday Times reported in May that Lesufi was expected to axe a 'significant' number of provincial heads and the action was imminent. However, he could not immediately act for several reasons, including avoiding disrupting the auditing process by the auditor-general. He also announced the appointment of a new HOD for the Gauteng department of economic development, Motlatjo Moholwa. Lesufi said Moholwa brings a wealth of experience in the public service and has served as the head of economic research and chief economist in the City of Johannesburg, lead economist for the Land Bank and deputy director-general (DDG) in the Mpumalanga and Gauteng departments of economic development.
