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.

The South African rand was little changed in muted trade on Tuesday even after the release of a positive purchasing managers' index survey as investors continued to wait for tariff updates ahead of the United States' August 8 deadline.

The South African automotive industry is bracing for a potential 30% tariff imposed by the US, which could lead to significant job losses and disrupt trade flows. Industry leaders express deep concern