South Africa’s trade department has drafted proposed regulations that will allow exporters to collaborate to ease the impact of 30% tariffs the US levied on imports from the nation.

JPMorgan said on Tuesday the recently imposed 30% U.S. tariffs on South African exports are expected to have a limited effect on the country's assets, as markets have "largely priced in the reality of higher tariff headwinds".

South Africa has presented a revised trade offer to the US, aiming to address recent tariff impositions and strengthen bilateral relations, with a focus on agricultural exports and market diversification.