South Africa’s government is putting the final touches to an overarching package that aims to shield businesses against the fallout from punitive US trade tariffs and plans to present it to lawmakers later this week.

South Africa on Monday outlined support measures for local companies that will be hit by a 30% U.S. tariff this week, including exemptions from some competition rules and financial support facilities.

South African products exported to the US will face a 30% tariff from 7 August, President Donald Trump has announced. South Africa is the only country from sub-Saharan Africa singled out in the announcement, reflecting his strained relationship with Cyril Ramaphosa's government.