South Africa’s trade minister said he was hopeful a trade pact giving many African countries preferential access to the US market will be extended ahead of its expiry later this year.
“We haven’t given up on it,” Parks Tau told Bloomberg Television in New York on Tuesday, referring to the African Growth and Opportunity Act, which gives duty-free access to some key industrial exports.
“We continue to lobby, both in the administration and in Congress. And we’re getting some sentiment that it would be ideal if it were extended. So, we have to continue to work hard.”
The future of Agoa — approved by the US in 2000 and designed to assist sub-Saharan African economies — has been thrown into doubt by President Donald Trump’s trade wars.
Even if it is extended, its benefits could be undone by his imposition of tariffs, including one of 30% for South Africa.
Tau,
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