Trump vs Harris: What (economic) impact will the U.S election results have on SA?

Stephen Grootes speaks to Donald McKay, author at Miningmx.

Listen to the interview in the audio player below.

The 2024 United States presidential election, scheduled to take place on Tuesday, 5 November, will be the nation's 60th presidential election.

Current Vice President Kamala Harris is going head-to-head against and former President Donald Trump for the White House.

The elections is being described as a tight race, with either candidate confident of winning.

The uncertainty around the election outcome has created a volatile dollar, much to the benefit of the South African rand.

The rand made gains against a weaker dollar on Monday evening, trading at R17.54 against the dollar. 

Speaking to Stephen Grootes on The Money Show, Donald McKay, author at Miningmx says Trump has proposed some radical changes should he win a second-term in office.

"He's threated to impose duties of 20% on all of the world for goods entering the U.S, and then isolating China and threatening to impose a 60% duty."

- Donald McKay, author - Miningmx

"It's really hard to conceive of, what would happen because we've never really seen anything like that. But were he to do that, I think it's fair to say we do risk pushing most of the world into some kind of recession."

- Donald McKay, author - Miningmx

"It's also not clear that the US has even close to the ability to localise the kind of production that would have to be localised if you took China out of the market."

- Donald McKay, author - Miningmx

"One of the side-effects of the duties that both the US and Europe are busy imposing would probably mean that electric vehicles, ironically become cheaper elsewhere in the world. China's not going to all of a sudden shut down all of its factories, so I presume a lot of those vehicles will go looking for another home."

- Donald McKay, author - Miningmx 

Scroll to the top of the article to listen to the full interview.