Thank you in advance for answering my question, I really appreciate it. I understand why Ashkenazi Rabbis and Haredim would wear the clothing of "the old country" (black and white), but why do Spharadi Rabbis and Haredim wear the same garb, would it not be more fitting for them to wear what was worn in the Spharadi countries, such as what the Baba Sali ztl wore?

The answer to your question is more social than halachic. People often dress the way they do to identify with a profession or with a social group- haredi, religious- Zionist, Kibbutznik, successful businessman etc. As long as the laws of modesty are preserved, and the dress is not to mimic Gentile custom, it is all halachically acceptable