The yield on the South African 10-year government bond climbed above 9.80%, up from recent 5-month lows of 9.56%, amid growing political uncertainty caused by renewed friction within the coalition government. Tensions have intensified in South Africa's unity government following the sacking of the deputy trade minister, a politician from the main coalition partner of President Ramaphosa's party the African National Congress (ANC). Meanwhile, US President Donald Trump threatened a 10% tariff on nations supporting what he called an “anti-American BRIC policy.” The warning came as BRICS leaders - including South Africa - began a summit in Rio de Janeiro. South Africa had already faced a 10% tariff and an additional 30% duty on certain imports before a pause was implemented to allow for negotiations. Since May, Pretoria has been seeking a trade deal to exempt key exports - such as autos, auto parts, steel, and aluminum - in exchange for a 10-year commitment to purchase US liquefied natural gas.