Business
US removes Ethiopia, Mali and Guinea from trade pact
President Joe Biden’s administration said on Saturday that it had excluded Ethiopia, Mali and Guinea from a trade agreement agreement between the United States and Africa, and said the actions of the three governments violated its principles. “The United States today removed Ethiopia, Mali and Guinea from the AGOA trade preferences program due to actions taken by each of their governments in violation of the AGOA Statute,” said the United States Trade Representative (USTR) in a statement.
The Africa Growth and Opportunity Act (AGOA) was implemented in 2000 under the administration of former President Bill Clinton to facilitate and regulate trade between the United States and Africa. But the United States is “deeply concerned about the unconstitutional change in the governments of Guinea and Mali,” the statement said. It also expressed concern about “grave violations of internationally recognised human rights perpetrated by the Ethiopian government and other parties amid the escalating conflict in northern Ethiopia. Each country has clear benchmarks for a path to reinstatement and the administration will work with their governments to achieve that goal,” the USTR said.
Under the AGOA agreement, thousands of African products can benefit from reduced import taxes, provided that the conditions regarding human rights, good governance and worker protection are met, as well as that a customs ban is not applied to the products. Americans in their territory. By 2020, 38 countries were eligible for AGOA, according to the USTR website. The agreement was modernised in 2015 by the United States Congress, which also extended the program until 2025.
Guardian
-
News1 day agoNASS members vow to delay Tinubu’s 2026 budget over constituency projects funding
-
Economy1 day agoAfrexim says Africa must raise factoring volumes to at least €240bn to support SME led transformation
-
News35 minutes agoECOWAS to scrap regional air taxes, paving way for cheaper flights from January 2026
-
Economy46 minutes agoNiger Delta MSME empowers entrepreneurs with N3m grant
-
Uncategorized26 minutes agoIMF urges China to take the ‘brave choice’: curb exports, boost consumption
-
Uncategorized1 day agoKogi unveils Free Trade Zone, set to attract $2–$5bn FDI in seven years
-
Oil and Gas41 minutes agoU.S. energy agency raises crude oil price forecast, Heirs Energy strike flare-gas deals to curb emissions, boost energy
-
Finance38 minutes agoAccess Bank champions Africa’s payment integration at PAPSS cOWRY 2025 forum
