South African rand starts week muted as tariff uncertainty hangs over markets

JOHANNESBURG: The South African rand was softer in early trade on Monday as investors mulled over U.S. President Donald Trump’s latest tariff threats.

At 0627 GMT the rand traded at 17.96 against the dollar , about 0.1% weaker than Friday’s close.

Trump on Saturday threatened to impose a 30% tariff on imports from two of the largest U.S. trading partners – the European Union and Mexico - beginning August 1.

South Africa also faces the prospect of a 30% trade tariff on its exports to the United States as well as an additional 10% levy because of its membership of the BRICS group of developing nations.

South Africa’s rand and stocks slip as lower commodity prices weigh

South Africa’s statistics agency will release mining output figures on Tuesday and retail sales data on Wednesday that should provide clues to the health of Africa’s most industrialised economy.

Its benchmark 2035 government bond was weaker in early deals, as the yield rose 3 basis points to 9.905%.