Breaking News Today – Friday 1 August 2025

Business & Tech News 

Trumps Tariff Day Arrives

As of this morning there will be widespread tariffs applied to many country’s exports to the United States as the Trump administration looks to balance their trade deficit book with its major trading partners. Trade deals concluded so far include a 30% tariff with China, a 15% tariff on Japanese imports, 20% with Vietnam, and 19% on Indonesian and Vietnamese imports to the US. The African states of Gabon, Guinea-Bissau, Liberia, Mauritania, Senegal have all been exempted from US tariffs. Zimbabwe, who is facing an 18% tariff rate has scrapped all tariffs on US imported goods in an effort to improve relations with the US, a large market for its tobacco and agricultural produce.

Trump unveiled a 10% baseline global tariff and imposed retaliatory duties reaching up to 41% on countries lacking trade deals. Additionally, he announced a 40% tariff targeting goods suspected of being rerouted through third countries to avoid existing levies. South Africa, has however failed to get the US to even sit down to discuss the 30% tariff, due to be imposed by the US today, affecting much of its exports to the US, its second largest trading partner for South African exports.

Figma – Listing Fantastic

Figma, the tech design software company saw its initial public offering sky-rocket yesterday as it’s share price surged over 150% in their market debut. the listing now values the popular design software maker at around $50 billion after its first day of trading. The stock opened for trading at $85 apiece on the New York Stock Exchange, compared with the initial public offering price of $33. Figma makes collaborative design software used to build websites, apps and digital products, and customers include streaming giant Netflix , travel firm Airbnb and language learning app Duolingo. The company’s major investors include Silicon Valley venture capital giants Kleiner Perkins and Sequoia, with Sequoia Capital first investing in Figma at $1.10 a share during the company’s Series C round, with yesterday’s listing, providing a handsome ROI.

Ford Forges Fine Growth and Focuses of EV Future

Ford Motor Company, reported its second-quarter 2025 earnings, surpassing analysts’ expectations with an earnings per share (EPS) growing by over 19% to $0.37, compared to the forecasted $0.31. The company also achieved a revenue of $50.18 billion, exceeding the anticipated $45.29 billion. Following the announcement, Ford’s stock experienced a modest increase in aftermarket trading, reflecting positive investor sentiment. According to InvestingPro data, Ford’s trailing twelve-month revenue stands at $182.87 billion, with a healthy dividend yield of 6.9%. There has been a key focus on cost management that has clearly paid off while CEO Jim Farley hinted that Ford expected a big announcement in august saying, “This is a Model T moment for us at Ford,” highlighting the company’s transformative efforts in the automotive industry, with expectations that the announcement is aligned with the companies stated goal of producing low-cost EV vehicles.

Business, Tech & Market News Shorts: 

• South Africa’s Repo Rate was cut by 25 basis points, as expected, at yesterday’s Monetary Policy Meeting, with indications that the reserve bank wishes to tighten inflation target further despite Inflation being under the current target range for two quarters.
• Donald Trump has given Mexico a 90-day reprieve from higher tariffs to negotiate a broader trade deal but is expected to issue high final duty rates for most other countries as the clock wound down on his deal deadline today. The extension was granted after a call between Trump and Mexican President Claudia Sheinbaum yesterday
• South Africa may soon see a complete ban of semi-conductor chips from Taiwan, following Pretoria insisting that Taiwan moves its embassy from the city and downgrading it to a trade mission status.
• China’s 10-year government bond yield fell to around 1.70% on today, with investors shifting to safer assets with growing concerns of economic contraction, following US President Donald Trump’s announcement of new tariffs.
• Anheuser-Busch InBev shares dropped by almost 2% this morning, after the company indicated that it had sold less beer than expected during Q2 of 2025, with a slow-down in consumer spending in major beer markets such as Brazil and China.

Markets by Numbers 

Currencies: 

Currency markets today indicate the US Dollar continues to strengthen, and currently trading against the Euro at 1.14198 and against the Pound at 1.31994. The Yen is currently at a four-month low to the US dollar and trading at 150.60 to the dollar currently. The rand (ZAR)is currently at R18.22 to the US dollar, having lost over 2.6% to the greenback this week so far. 

Commodities:

• Gold futures prices are currently trading slightly upwards after a drop yesterday, and currently at $3296 per ounce.  
• Copper prices are dropping rapidly and down over -4% today, with prices currently at $4.4124 
• Silver futures prices are marginally up today, and currently at $37.217
• Platinum futures are up by over 1.5% % this morning, and are currently trading at $1328.60 While Palladium prices are trading marginally lower this morning and currently at $1227.50
• Brent crude oil prices are currently at $71.86, with WTI trading at $69.44 
• Cocoa futures have spiked by over 3% today, and currently at $8459 per ton. 
• Coffee futures have clawed back some of its losses from yesterday, and currently trading at $294.79

Crypto Currencies:

• Bitcoin prices are trending lower today, and currently at $115526
• Ether prices are trending upwards this morning and currently at $3685.50
• $Trumpcoin is currently trading around $8.88

(All prices quoted at approximately 06H45 Central African Time) 

Other Breaking News in Africa Today

Rome Targets Tunis for Economic Growth Incentives

Yesterday saw a meeting between Italian Prime Minister Giorgia Meloni and Tunisian President Kais Saied in Tunis to discuss Italy’s ambitious Mattei Plan for Africa and to explore further cooperation between the two nations. The talks, held at the Tunisian presidential palace, focussed on economic development, energy diversification, and curbing irregular migration. The Mattei Plan is Rome’s flagship strategy to foster sustainable development in Africa. This initiative aims to reduce migration pressures by creating jobs, improving infrastructure, and establishing what Meloni describes as a “non-predatory” partnership between Europe and Africa. Key sectors targeted under the plan include education, healthcare, water and sanitation, agriculture, and energy infrastructure.