Jakony Tribune. Continue Reading at - US News: Breaking Headlines and Analysis
JOHANNESBURG—Whether Democrat Kamala Harris or Republican Donald Trump triumphs in the upcoming election in the United States, African governments are concerned that the next administration in Washington will scrap a preferential trade program that earned them 9.3 billion tax-free dollars in 2023.
Under the African Growth and Opportunity Act (AGOA), 32 qualifying countries enjoy tariff-free access to U.S. markets for thousands of products, including automobiles, clothing, fresh produce, and textiles.
AGOA was signed into law in 2000 by President Bill Clinton, with key aims being to strengthen weak African economies and promote trade between the United States and African countries.
But critics say Washington should not be financially rewarding African countries that have close political, economic, and security ties to America’s greatest geopolitical foes—especially China, Russia, and Iran….