By Lauren Pillay
As this news was dispersed all over social media, many were left wide-eyed and gasping for air as Donald Trump reached the 270-vote mark before his rival, Hillary Clinton. This truth shook many individuals as the mind began to question, Donald Trump? Donald Trump, the billionaire would be the new president of the United States of America.
The world watched in anticipation as Hillary Clinton and Donald Trump battled it out for American voters. Towards the end of the buildup, there was a surety that Hillary Clinton would be the first female president of the USA. As the tables have turned and caused a great shock throughout the world. What does this mean for South Africa?
- Firstly Donald Trump is not a fan of South Africa as he has stated in tweets.
- The United States is one of SA’s largest trading partners and this could be affected since Mr. Trump would like to implement trade restrictions.
- The African Growth and Opportunity Act (AGOA) could be at risk. The AGOA gives special treatment to 39 African countries (including SA) by allowing no taxation on certain trades.
- “A Trump victory has injected considerable uncertainty and volatility into the market.” As seen in an article by Fin24 in an interview with Tumisho Grater by Fin24. (Like with Brexit and the Pravin Gordhan debacle).
- Ideas of segregation, sexism and homophobia have been trends in Donald Trump’s rallies.
The USA is a powerful country that has nuclear weapons in their garage. These weapons are now accessible to a man who has openly shared his distaste toward many. We need to be aware of what may come from Donald Trump’s victory and keep in mind his beliefs.
Back in August 2015, Trump stated that South Africa is “a total and very dangerous mess”.
US being one of South Africa’s largest trading partners, especially because of the AGOA-agreement which enables South Africa to export products to the USA without or less taxation, which will probably not escape his attention.
It has been estimated that AGOA had created 62 000 jobs in South Africa.
How would Trump’s presidency have an impact on your household’s finance as a South African citizen?