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 Africa faces the highest rate in sub-Saharan Africa, reflecting Trump's strained relationship with the government of President Cyril Ramaphosa. Other African nations, including Nigeria, Ghana, Lesotho and Zimbabwe have been hit with a 15% tariff, which will also come into effect in seven days.