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Congress Extends Aguwa Law to 2028
The U.S. Congress has approved the extension of the African Growth and Opportunity Act (AGOA) until 2028, keeping the preferred trade pathway open for Sub-Saharan African countries to access the American market. This extension comes after months of debate and aims to strengthen trade relations between Washington and those nations, particularly in the fields of critical minerals and natural resources, amid America's efforts to counter China's influence on the continent and secure supply chains. The extension provides African companies with certainty regarding preferential access to the U.S. market and encourages expanded trade exchanges, though it also obligates adherence to standards related to governance and workers' rights. Nonetheless, the future of the program remains contingent upon future negotiations for more reciprocal terms, amidst increasing international competition for Africa’s resources.
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