This possibility arose this week at US President Joe Biden’s major summit in Washington with African leaders which gathered 49 African governments to meet with Biden and his Cabinet as well as US business representatives, civil society, and diaspora and...
The US companies may well get support from an increasingly protectionist Congress, especially after Republicans took control of the House of Representatives in last month’s midterm elections.asked him in an online media briefing on Thursday whether the US regards the agreement it signed with the AfCFTA as a substitute for renewing Agoa.
He noted that US Trade Representative Katherine Tai had hosted several African trade ministers at an Agoa ministerial meeting on Monday. Tai said the ministers told her Agoa was not enough and what was needed was more US investment in Africa to produce the kinds of goods which could then be competitively exported into the US under Agoa.
On the question of renewing Agoa, he echoed Tai in saying Agoa was an act of Congress and so the Biden administration would engage with Congress closer to the Agoa expiration date of 2025. “It’s going to create great opportunities to grow, to develop into major global trading companies that we all believe are in Africa’s future. We know that we need to do more to lift up our relationship.”
And so he expected that as a result of the AfCFTA — and, he implied, the US’s proposed free trade agreement with it — the African market would become an increasingly attractive market, competitive with all other global markets.
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