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.

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.