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.

As sweeping new US tariffs take effect on Thursday, dozens of countries are facing sharp new duties on their exports. South Africa is among the hardest hit, with key goods now subject to a 30 percent tariff and up to 100,

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.