A last-minute Trump executive order means US businesses get a slight reprieve on tariffs. They'll continue to pay 30% versus 145% until Nov. 10 unless the US and China can reach a deal.

President Trump’s order continues a reprieve from the threat of escalating tariffs and export controls, which rocked the global economy earlier this year.

South African auto parts manufacturer Jendamark Automation stands to lose 750 million ($43 million) rand of contracts in a U.S. market it has built up to account for 50% of its exports, its operations director told Reuters.

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.