In a bid to navigate the impending U.S. tariffs, South Africa and several other countries have been reportedly seeking advice from Goldman Sachs since late February.
What Happened: South African officials have been consulting with Goldman Sachs to devise strategies to mitigate the impact of the looming tariffs and appease President Donald Trump. The country was reportedly advised by Goldman that everything comes down to Trump’s feelings.
The bank recommended that South Africa consider revising certain laws, including one requiring Black ownership in some companies and another permitting the government to seize land from landowners to address racial disparities, reported The Wall Street Journal.
Goldman Sachs did not immediately respond to Benzinga’s request for comment.
Despite the advice from Goldman Sachs, a spokesperson for President Cyril Ramaphosa stated that the recommendations “would not have …