The US has reinstated steel and aluminium tariffs on Brazil and Argentina, while disappointing US economic data has added to risk-off sentiment
The JSE could take its lead from weaker Asian markets on Tuesday morning, with trade war concerns and disappointing economic data weighing on sentiment.
US President Donald Trump has reinstated steel and aluminium tariffs on Brazil and Argentina, accusing the two countries of devaluing their currencies to the detriment of US farmers. In morning trade Japan’s Nikkei was down 0.7%, while the Shanghai Composite and Hang Seng lost 0.12%. There is little on the local corporate calendar on Tuesday. SA’s GDP numbers for the third-quarter are due at 11.30am.
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