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Business

US Senate votes to extend AGOA for another two years

SABC News Business ·
US Senate votes to extend AGOA for another two years

The US Senate has voted overwhelmingly to extend the African Growth and Opportunity Act ( AGOA) , a key trade agreement with Africa, for another two years.

The Senate voted 90 to six, with the AGOA extension included in a much larger government funding bill.

House of Representatives now has to approve the Senate’s version of the legislation before it can go to President Donald Trump for his signature.

The development could be a big win for African exporters, including South Africa that has lobbied hard for the extension.

AGOA has been a cornerstone of US-Africa trade since 2000, allowing eligible African countries to export thousands of products to the United States without normal import duties.

The programme expired last September and was temporarily extended until the end of December by President Donald Trump this February.

The House of Representatives earlier this year voted for a three-year AGOA extension, but because the Senate attached only a two-year extension to its wider government funding package, lawmakers must now agree on the final version before the President’s signature is attached.

The White House has not commented on the development that could see AGOA extended through the end of 2028.

AGOA | Restoration of business confidence: Neil Diamond

Read the full article on SABC News Business ›

5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on www.sabcnews.com — the content belongs to SABC News Business.

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