African Growth and Opportunity Act (AGOA)

African Growth and Opportunity Act (AGOA) The African Growth And Opportunity Act AGOA Is A Non Reciprocal Trade Preference Program That Provides Duty Free Treatment To US Imports Of Certain Products From Eligible Sub Saharan African SSA Countries Congress First Authorized AGOA In To Encourage Export Led Growth And Economic Development In SSA And Improve US Economic Relations With The Region Its Current Authorization Expires On September , In Terms Of Tariff Benefits And General Eligibility Criteria, AGOA Is Similar To The Generalized System Of Preferences GSP , A US Trade Preference Program That Applies To Than Developing Countries AGOA, However, Covers Products And Includes Additional Eligibility Criteria Beyond Those In GSP Additionally, AGOA Includes Trade And Development Provisions Beyond Its Duty Free PreferencesUS Imports From AGOA Beneficiary Countries AGOA Countries Represent A Very Small Share % Of Total US Imports And Are Largely Concentrated In Energy Related Products Oil Is Consistently The Top Duty Free US Import From AGOA Countries, Accounting For % Of Such Imports In Among Non Energy Products, Apparel Is The Top Export For A Number Of AGOA Countries US Apparel Imports Typically Face Relatively High Tariffs And Are Excluded From Duty Free Treatment In GSP, But Are Included In The AGOA Preferences Giving AGOA Countries A Competitive Advantage Over Other Apparel Producers Still, Only A Handful Of Countries, Primarily Lesotho, Kenya, And Mauritius, Make Significant Use Of The Apparel Benefits Apart From Apparel And Energy Products, South Africa Accounts For The Bulk Of US Imports Under AGOA As The Most Economically Advanced Country In The Region, South Africa Also Exports A Much Diverse Range Of Manufactured Goods Than Other AGOA Countries Vehicles In Particular Have Become A Major South African Export Under AGOAMost Observers Agree That AGOA Has Successfully Led To Increased And Diversified Exports To The United States From Sub Saharan African Countries Despite This, Congress May Wish To Address A Number Of Issues And Challenges As It Considers Possible Reauthorization Of AGOA Among These Challenges Is How Current And Potential AGOA Beneficiaries Can Better Utilize The AGOA Program And Its Duty Free Benefits Studies Suggest That Even Among Some Countries That Do Make Significant Use Of The AGOA Preferences, The Low Skill Apparel Production Which AGOA Has Spurred Has Not Led To The Production Of Higher Skill Manufactured Products Other Issues Relate To The Non Reciprocal Nature Of The AGOA Preferences Some Argue That The United States Should Focus On Two Way Trade Agreements With The Region, Particularly With Advanced Countries Such As South Africa, Given Improving Economic Conditions In Africa In Recent Years The European Union EU , For Example, Has Negotiated Economic Partnership Agreements EPAs With Several African Countries That Provide Some Reciprocal Tariff Benefits, Potentially Placing US Firms At A Competitive Disadvantage Relative To European Firms In Some Markets

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[Read] ➵ African Growth and Opportunity Act (AGOA)  By Brock R. Williams –
  • Kindle Edition
  • 26 pages
  • African Growth and Opportunity Act (AGOA)
  • Brock R. Williams
  • English
  • 19 October 2017

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