Tag #Agoa

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french.china.org.cn

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Aug 26, 16:20

US Tariffs and Africa's Resilient Trade Response

On July 31, 2024, President Trump's new tariffs on 69 countries, including many African nations, caused a trade shift; however, Africa's diversified trade with China, the AfCFTA, and other partners mitigated the impact, showcasing the continent's economic resilience.

US Tariffs and Africa's Resilient Trade Response

On July 31, 2024, President Trump's new tariffs on 69 countries, including many African nations, caused a trade shift; however, Africa's diversified trade with China, the AfCFTA, and other partners mitigated the impact, showcasing the continent's economic resilience.

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What is the immediate impact of the US tariffs on African economies, and how is Africa responding to this challenge?

On July 31st, 2024, President Trump signed an executive order imposing new tariffs on goods exported to the US from 69 trade partners, impacting African economies with 15% tariffs, and some countries like South Africa facing up to 30%. This significantly altered African trade, but the continent demonstrated remarkable adaptability.

bbc.com

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Jul 29, 04:11

Lesotho Garment Factories Face Closure Due to US Tariffs

Lesotho's garment factories, which produce clothes for American brands like Trump and Levi's, face potential closure due to US tariffs, threatening 12,000 jobs and exacerbating already high unemployment; the tariffs, though currently paused, could be reimposed soon.

Lesotho Garment Factories Face Closure Due to US Tariffs

Lesotho's garment factories, which produce clothes for American brands like Trump and Levi's, face potential closure due to US tariffs, threatening 12,000 jobs and exacerbating already high unemployment; the tariffs, though currently paused, could be reimposed soon.

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What are the underlying causes of Lesotho's economic vulnerability, and how do the US tariffs exacerbate existing challenges?

The US tariffs, initially intended as "reciprocal" measures against Lesotho's trade surplus with the US, have created economic hardship in Lesotho, jeopardizing 12,000 garment industry jobs and exacerbating existing high unemployment (30% overall, nearly 50% for youth). The tariffs threaten to undo the progress made under the African Growth and Opportunity Act (Agoa), which provided duty-free access to the US market.

dw.com

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May 21, 13:12

Ramaphosa-Trump Meeting Aims to Reset Strained US-South Africa Relations

South African President Cyril Ramaphosa will meet with US President Donald Trump on May 21st in Washington D.C. to address strained relations marked by trade disputes, allegations of genocide against white Afrikaners, and South Africa's role in BRICS, aiming to restore strategic ties and secure a ne...

Ramaphosa-Trump Meeting Aims to Reset Strained US-South Africa Relations

South African President Cyril Ramaphosa will meet with US President Donald Trump on May 21st in Washington D.C. to address strained relations marked by trade disputes, allegations of genocide against white Afrikaners, and South Africa's role in BRICS, aiming to restore strategic ties and secure a ne...

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How have recent US trade policies and the issue of "refugees" from South Africa contributed to strained relations?

The meeting's significance lies in its potential to reset US-South Africa relations, strained by ideological differences, geopolitical alliances, and trade disputes. Ramaphosa seeks a new trade framework post-AGOA and to counter Trump's claims of genocide against white Afrikaners.

dw.com

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May 20, 16:11

Ramaphosa Seeks to Reset US-South Africa Relations Amidst Strained Ties

South African President Cyril Ramaphosa will visit the US on May 21st to meet with President Donald Trump, aiming to repair deteriorated relations marked by trade disputes, ideological differences, and South Africa's role in BRICS; the meeting's outcome could significantly impact US-Africa relations...

Ramaphosa Seeks to Reset US-South Africa Relations Amidst Strained Ties

South African President Cyril Ramaphosa will visit the US on May 21st to meet with President Donald Trump, aiming to repair deteriorated relations marked by trade disputes, ideological differences, and South Africa's role in BRICS; the meeting's outcome could significantly impact US-Africa relations...

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How have recent trade policies, the expiration of AGOA, and South Africa's role in BRICS contributed to the deterioration of US-South Africa relations?

The meeting's significance extends beyond bilateral ties, impacting US-Africa relations and global trade. Trump's recent trade tariffs, including those affecting South Africa's automotive industry, and the expiration of AGOA, create a critical need for a new trade framework. South Africa's role in BRICS further complicates the relationship.

africa.chinadaily.com.cn

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May 2, 10:12

AfCFTA: Africa's Response to Global Economic Shifts

Amidst US tariffs and AGOA's uncertain future, 48 of 54 African nations have ratified the AfCFTA to boost intra-African trade, reduce external market reliance, and foster economic growth by leveraging the continent's youthful population and abundant resources.

AfCFTA: Africa's Response to Global Economic Shifts

Amidst US tariffs and AGOA's uncertain future, 48 of 54 African nations have ratified the AfCFTA to boost intra-African trade, reduce external market reliance, and foster economic growth by leveraging the continent's youthful population and abundant resources.

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What long-term implications could the successful implementation of AfCFTA have for Africa's economic trajectory and its role in the global economy?

Africa's youthful population (projected 60% under 20 by 2100) and abundant mineral resources position the continent as a future market leader. AfCFTA's success hinges on strategic industrialization, responsible resource management, and deliberate investment to capitalize on these advantages and realize economic growth.

chinadaily.com.cn

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Apr 23, 07:12

US Tariffs Threaten African Economies, Spurring Calls for Self-Reliance

New US tariffs heavily impacting African economies, particularly Lesotho's textile industry, threaten AGOA's renewal, prompting calls for increased self-reliance and South-South cooperation.

US Tariffs Threaten African Economies, Spurring Calls for Self-Reliance

New US tariffs heavily impacting African economies, particularly Lesotho's textile industry, threaten AGOA's renewal, prompting calls for increased self-reliance and South-South cooperation.

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How does the uncertainty surrounding AGOA's renewal affect African trade and economic prospects, and what are the potential long-term implications?

High US tariffs disrupt African economies heavily reliant on exports, potentially causing a global economic slowdown and decreased demand for African raw materials. The uncertainty around AGOA's renewal further exacerbates economic vulnerabilities.

lemonde.fr

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Aug 1, 13:13

US Tariffs Threaten 100,000 Jobs in South Africa

New 30% US tariffs on South African agricultural goods, effective August 7th, threaten 100,000 jobs and significantly impact Afrikaner farmers, who largely benefit from the previously-exempt AGOA agreement, jeopardizing exports worth nearly $600 million annually.

US Tariffs Threaten 100,000 Jobs in South Africa

New 30% US tariffs on South African agricultural goods, effective August 7th, threaten 100,000 jobs and significantly impact Afrikaner farmers, who largely benefit from the previously-exempt AGOA agreement, jeopardizing exports worth nearly $600 million annually.

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What is the immediate economic impact of the 30% US tariffs on South African agricultural exports?

The US imposed 30% tariffs on South African agricultural products, including wine and citrus fruits, eliminating a previous exemption. This impacts South African farmers significantly, threatening 100,000 jobs and potentially causing devastation to the agricultural sector, which employs many low-skilled workers. Many producers, particularly Afrikaner farmers, exported a significant portion of their products to the US.

tr.euronews.com

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May 23, 04:11

Botswana Seeks EU Investment Amidst US Tariff Impact

Botswana's Foreign Minister Phenyo Butale called for increased trade and investment with the EU, following the significant impact of US tariffs on its diamond-dependent economy, which contracted 3.1% last year but is projected to grow by 3.3% this year. The EU is already Botswana's second-largest tr...

Botswana Seeks EU Investment Amidst US Tariff Impact

Botswana's Foreign Minister Phenyo Butale called for increased trade and investment with the EU, following the significant impact of US tariffs on its diamond-dependent economy, which contracted 3.1% last year but is projected to grow by 3.3% this year. The EU is already Botswana's second-largest tr...

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What are the immediate economic impacts of the US tariffs on Botswana, and how is the government responding?

Botswana's Minister of Foreign Affairs, Phenyo Butale, recently announced the country's openness to increased investment and trade, particularly with the EU. This follows the imposition of a 37% tariff on Botswanan goods by the US, significantly impacting its economy, which contracted by 3.1% last year due to decreased global diamond demand. Botswana's diamond exports, while substantial, have been negatively affected.

jpost.com

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May 21, 13:12

Ramaphosa Seeks to Repair US-South Africa Ties Amidst Trump's Sanctions

South African President Cyril Ramaphosa is visiting the White House to negotiate with President Trump, aiming to prevent further damage to the bilateral relationship caused by Trump's sanctions over land reform and the Israel case. The meeting involves potential trade deals, concessions for US compa...

Ramaphosa Seeks to Repair US-South Africa Ties Amidst Trump's Sanctions

South African President Cyril Ramaphosa is visiting the White House to negotiate with President Trump, aiming to prevent further damage to the bilateral relationship caused by Trump's sanctions over land reform and the Israel case. The meeting involves potential trade deals, concessions for US compa...

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What are the immediate economic consequences of the strained US-South Africa relationship, and how might a trade deal mitigate them?

President Cyril Ramaphosa of South Africa is visiting the White House to negotiate with President Donald Trump. Trump's actions, including canceling aid and expelling the ambassador, stem from disagreements over land reform and a genocide case against Israel. The US is South Africa's second-largest trading partner, and the aid cuts have already negatively impacted HIV testing.

global.chinadaily.com.cn

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May 8, 07:15

AGOA Renewal Uncertainty Prompts African Trade Policy Re-evaluation

The African Growth and Opportunity Act (AGOA), a 25-year-old trade program providing duty-free US access to sub-Saharan African goods, faces renewal uncertainty in September, prompting African experts to advocate for alternative trade policies to mitigate potential economic losses and foster greater...

AGOA Renewal Uncertainty Prompts African Trade Policy Re-evaluation

The African Growth and Opportunity Act (AGOA), a 25-year-old trade program providing duty-free US access to sub-Saharan African goods, faces renewal uncertainty in September, prompting African experts to advocate for alternative trade policies to mitigate potential economic losses and foster greater...

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What are the immediate economic implications for African nations if the AGOA trade agreement is not renewed or significantly altered by the US?

The African Growth and Opportunity Act (AGOA), granting duty-free US access to eligible sub-Saharan African goods for 25 years, faces September renewal uncertainty. Experts warn of potential US "America First" policy impacts, possibly replacing AGOA with bilateral trade agreements prioritizing US interests. This shift could negatively affect African economies reliant on AGOA.

dw.com

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Apr 23, 22:12

AGOA's Uncertain Future: Trump Tariffs Threaten US-Africa Trade

The African Growth and Opportunity Act (AGOA), providing duty-free US market access for sub-Saharan African countries, faces potential termination in 2025 due to Trump-era tariffs, threatening thousands of jobs and highlighting Africa's limited bargaining power with the US.

AGOA's Uncertain Future: Trump Tariffs Threaten US-Africa Trade

The African Growth and Opportunity Act (AGOA), providing duty-free US market access for sub-Saharan African countries, faces potential termination in 2025 due to Trump-era tariffs, threatening thousands of jobs and highlighting Africa's limited bargaining power with the US.

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What are the immediate economic consequences for African nations if the AGOA trade agreement is not renewed by the US?

The African Growth and Opportunity Act (AGOA), granting duty-free US market access to over 1,800 products from eligible sub-Saharan African countries, is nearing its 2025 expiration. Trump's tariffs, including a 50% levy on Lesotho, threaten AGOA's renewal, jeopardizing thousands of jobs, as exemplified by a Ghanaian fabric company employing 5,000 workers whose US market access is at risk.

chinadaily.com.cn

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Apr 21, 07:12

US Tariffs Drive African Nations Towards China

Increased US tariffs on African exports are prompting African countries to seek alternative trade partnerships with China and other emerging markets, highlighting the need for regional integration and diversification to mitigate the impact of unpredictable US trade policies.

US Tariffs Drive African Nations Towards China

Increased US tariffs on African exports are prompting African countries to seek alternative trade partnerships with China and other emerging markets, highlighting the need for regional integration and diversification to mitigate the impact of unpredictable US trade policies.

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How are African countries responding to the threat of AGOA's expiration and increased US tariffs?

This strategic shift stems from the US imposing tariffs on African exports, making Chinese markets, which offer zero tariffs and favorable terms to least-developed countries, a more attractive alternative. The potential expiration of AGOA further incentivizes African nations to prioritize regional integration and reduce dependence on unpredictable US markets.

Showing 1 to 12 of 26 results