US removes Ethiopia, Mali and Guinea from trade pact - Capital Business
Connect with us

Hi, what are you looking for?

www.capitalfm.co.ke
www.capitalfm.co.ke
/ UNSPLASH

Africa

US removes Ethiopia, Mali and Guinea from trade pact

WashingtonUnited States, Jan 2 – President Joe Biden’s administration announced on Saturday that it had excluded Ethiopia, Mali and Guinea from a US-Africa trade agreement, saying the actions of the three governments violated its principles. 

“The United States today terminated Ethiopia, Mali and Guinea from the AGOA trade preference program due to actions taken by each of their governments in violation of the AGOA Statute,” the US Trade Representative (USTR) said in a statement.

The African Growth and Opportunity Act (AGOA) was put in place 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 by the unconstitutional change in governments in both Guinea and Mali,” the statement said.

It also voiced concern about “gross violations of internationally recognized human rights being perpetrated by the government of Ethiopia and other parties amid the widening conflict in northern Ethiopia.”

“Each country has clear benchmarks for a pathway toward reinstatement and the administration will work with their governments to achieve that objective,” the USTR said.

Under the AGOA agreement, thousands of African products can benefit from reduced import taxes, subject to conditions being met regarding human rights, good governance and worker protection, as well as not applying a customs ban on American products on their territory.

By 2020, 38 countries were eligible for AGOA, according to the USTR website.

The agreement was modernized in 2015 by the US Congress, which also extended the programme until 2025.

Visited 9 times, 1 visit(s) today

More on Capital Business

Energy

WASHINGTON, USA, Oct 19 – President Joe Biden will announce Wednesday he’s putting the final 15 million barrels on the market from a record release...

Top Story

Washington, United States August 10 — US inflation is expected to have eased slightly in July, taking pressure off the Federal Reserve to hike interest...

Banks

New York, United States, March 10 –  US President Joe Biden has ordered the federal government to look into creating a digital dollar, a move...

World

Washington, United States, Nov 15 – US President Joe Biden and China’s Xi Jinping will speak Monday at a virtual summit aimed at defusing some...

World

Washington, United States, October 31 – US President Joe Biden and European Commission head Ursula von der Leyen on Sunday saluted what they called a “new...

Top Story

Washington, United States, October 4 –The United States will in the coming days have “frank conversations” with China on trade as the Biden administration believes...

Finance

Washington, United States, Sept 26 – A decade ago, a standoff between Democrats and Republicans over increasing the United States’ authority to borrow brought the...

World

London, United Kingdom, Sept 22  –  Britain on Wednesday said it was eyeing membership of an existing trade deal between the United States, Canada, and...