The South African rand was steady on Tuesday, buoyed by hopes the country could still salvage a less damaging trade deal with the United States after President Donald Trump extended a tariff deadline to August 1.

SA’s rand fell on Monday as markets reacted to U.S. President Trump’s threat to impose additional tariffs on BRICS-aligned

The United States has imposed a 30 percent tariff on all South African exports to establish what it called a ‘’more balanced and fair trade’’ and threatened more tariffs if Africa’s biggest economy retaliates.