NOW Special Edition: Positioning for tariff turmoil

Loading player...
In this special edition of Investec’s No Ordinary Wednesday podcast, we delve into the recent market turmoil following President Donald Trump's controversial tariff announcements, which led to a staggering $5 trillion loss in the S&P 500 in just two days. Investec Wealth & Investment International’s Chief Investment Strategist, Chris Holdsworth, and Investment Strategist, Osagyefo Mazwai discuss implications for the global and local economies, investment portfolios and the future of markets.

Podcast key moments:

00:00 – introduction
01:01 - What’s the Global Investment Strategy Group’s view on Trump’s strategy and how does it impact its risk score?
03:00 - Is this all bark and no bite on Trump’s behalf? Could Trump roll back any of the tariffs?
03:54 - Is there method in Trump’s madness? Could these tariffs play to his ambitions of boosting local manufacturing, reducing debt and improving the life of the majority of Americans?
05:55 - US recession fears are mounting, are these valid? What would the knock-on consequences be for global growth and earnings?
06:39 – Where are the opportunities for investors amidst the chaos?
07:50 - South Africa’s exposure to tariffs?
09:24 - What options does the South African government have when it comes to responding to the tariffs?
10:30 – The uncertainty with the government of national unity is weighing heavily on local markets. How will this play out?
12:17 - With all this uncertainty, how is Investec’s Global Investment Strategy Group positioned on South Africa?
13:30 - South Africa has strong trade ties with both the US and China. How could these tariffs affect the country’s trade balance?
14:22 - Should we be concerned about further rand weakness?
15:20 - With no end in sight to geopolitical tensions and global trade shifts, what is the outlook for the global economy over the next 12 months?

Read more on www.investec.com/now

Hosted by seasoned broadcaster, Jeremy Maggs, the No Ordinary Wednesday podcast unpacks the latest economic, business and political news in South Africa, with an all-star cast of investment and wealth managers, economists and financial planners from Investec. Listen in every second Wednesday for an in-depth look at what's moving markets, shaping the economy, and changing the game for your wallet and your business.
Chapters
  • 00:00 Introduction
  • 01:01 What’s the Global Investment Strategy Group’s view on Trump’s strategy and how does it impact its risk score?
  • 03:00 Is this all bark and no bite on Trump’s behalf? Could Trump roll back any of the tariffs?
  • 03:54 Is there method in Trump’s madness? Could these tariffs play to his ambitions of boosting local manufacturing, reducing debt and improving the life of the majority of Americans?
  • 05:55 US recession fears are mounting, are these valid? What would the knock-on consequences be for global growth and earnings?
  • 06:39 Where are the opportunities for investors amidst the chaos? 07:50 - South Africa’s exposure to tariffs?
  • 09:24 What options does the South African government have when it comes to responding to the tariffs?
  • 10:30 The uncertainty with the government of national unity is weighing heavily on local markets. How will this play out?
  • 12:17 With all this uncertainty, how is Investec’s Global Investment Strategy Group positioned on South Africa?
  • 13:30 South Africa has strong trade ties with both the US and China. How could these tariffs affect the country’s trade balance?
  • 14:22 Should we be concerned about further rand weakness?
  • 15:20 With no end in sight to geopolitical tensions and global trade shifts, what is the outlook for the global economy over the next 12 months?
8 Apr 2025 English South Africa Business · Investing

Other recent episodes

Macro Monday Ep106: What the Strait of Hormuz means for energy prices

What will be the impact of the hostilities in the Middle East on the world economy? Chris Holdsworth Chief Investment Strategist, at Investec Wealth & Investment International, examines the impact on oil prices, in particular, taking into account further disruption at the key Strait of Hormuz.
2 Mar 10 min

What's next? | The value of values

In this episode, of What's Next, we explore how corporate values shape decision-making in a time of political polarisation and markets that reward short-term performance. Ethics expert, Alison Taylor, and experienced board chair, Karen Wood, discuss the tension between purpose and profit, the realities of trade-offs, and how leaders can…
26 Feb 48 min

Macro Monday Ep105: Trump’s tariff setback

It was a difficult Friday for US President Donald Trump, as the Supreme Court ruled against his tariffs, while GDP in the fourth quarter grew by less than expected and a core measure of inflation rose. But, notes Chris Holdsworth, Chief Investment Strategist, at Investec Wealth & Investment International, Trump…
23 Feb 13 min

Whats Next | The Tech Reckoning: Who Shapes the Next Economy?

What Next? Leadership Conversations for a Better Future examines how leaders can build future-fit economies in a time of accelerating technological and societal change. This episode looks at the power shifts created by AI and digital systems - asks where real agency still lies. Hosts Lindsay Hooper and Marc Kahn…
20 Feb 32 min