Africa Growth and Opportunity Act – Latest stories from Nourish

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AGOA’s expiry threatens Africa-US trade perks, risking job losses and economic setbacks for African exports. It’s been key since 2000.

Stories involving Africa Growth and Opportunity Act

Russia's Economy Strains Under War Costs

Russia faces declining oil and gas revenues, which account for a quarter of its budget, as energy exports fall and global oil prices drop. To support defense spending amid economic slowdown, Russia is raising VAT and implementing new taxes. The government expects its revenue from energy to be the lowest since 2020.

US Seeks to Shift Semiconductor Supply Chain

The US is exploring ways to reduce reliance on Taiwan for semiconductor manufacturing, aiming to bring more supply chain capacity home. Discussions involve Taiwan's investment and security guarantees, amid concerns over China's threats and global chip shortages. South Africa and Africa are also in talks for trade agreements.

AGOA Expiry Threatens Africa-US Trade

The African Growth and Opportunity Act (AGOA) expired on September 30, risking job losses and economic setbacks in African countries reliant on US duty-free exports. Leaders are seeking renewal amid rising tariffs and China's expanding influence, which could reshape Africa's trade landscape.