South Africa finds itself caught between two storms this week: an American tariff regime targeting nations deemed insufficiently protective of workers, and the quiet implosion of the Public Investment Corporation, one of the country's most consequential financial institutions. The resignation of Deputy Finance Minister David Masondo as PIC Chair, following a disputed CEO suspension and the departure of six fellow directors, signals a governance fracture that markets have not ignored. Against this backdrop, the rand weakened, global indices fell, and oil climbed past $100 a barrel — a reminder