South Africa Receives AGOA Extension to 2028 from US
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Updated Fri 00:00
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What happened
The African Growth and Opportunity Act (AGOA) has been extended for South Africa until 2028. This extension grants the country duty-free access to the American market. However, the extension is shorter than the 15 years South Africa had sought, and a 12.5% tariff under Section 301 of US trade law has been applied to South African goods since July 24.
From themediaonline.co.za
Why it matters
The extension maintains duty-free access for eligible sub-Saharan African countries to the US market. This access is important for South African brands exporting goods to the United States. The US President retains the authority to determine AGOA eligibility every year.
From themediaonline.co.za
Who's involved
- South AfricaCountry granted duty-free access to the US market through AGOA.
- Cyril RamaphosaPresident of South Africa.
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The entities involved
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South Africa
country in southern Africa