ANC looks at special fund to cushion businesses from Trump's tariffs

Many countries have similar plans

- By Queenin Masuabi

The ANC subcommittee on economic transformation is proposing that the country consider offering financial support to businesses likely to struggle with the high tariffs introduced by US President Donald Trump.

In a document presented earlier this month to the national executive committee (NEC), the party characterises the fund as being similar to the Covid-19 package, which was introduced to distressed businesses during the pandemic.

However, the document does not give details as to how the fund will be administered, how much money will be pumped into these businesses and who will qualify for assistance.