South Africa's rand firmed in early trade on Thursday, recouping some of its recent loss as investors took a breather after U.S. President Donald Trump announced an immediate 90-day tariff pause for many countries.

South Africa’s government said it would be ill considered and counterproductive to rush into imposing reciprocal tariffs on imports from the US after Washington hit it with punitive charges.

AGOA, which grants qualifying African nations duty-free access to the U.S. market, is due to expire in September. And Trump's far-reaching tariffs suggest that a renewal of the trade accord enacted in 2000 is now unlikely.