South African car suppliers face $41 million tariff impact.

"News 24 hours" reported that a South African company that manufactures automated assembly lines for BMW Group, Volkswagen Group, and Mercedes-Benz Group, as well as develops production software, has lost contracts worth 7.5 billion Rand due to the new trade tariffs imposed by the United States. The website quoted Managing Director Siegfried Loocke as saying that Jendamark Automation company has informed the board that contracts expected to be signed in the next two to three months will not be reached. "We have about 15% of our business locally, and 50% is exported to the United States," Loocke told "News 24 hours." "Now our prices are 30% more expensive, seriously undermining our competitiveness." On Friday, US President Donald Trump announced a 30% tariff on South Africa, as part of a series of measures to tax imported goods, putting pressure on the Rand and the South African stock market. The South African government is preparing an aid plan to support businesses affected by tariffs, while continuing negotiations with Washington for a new trade agreement.