USTR Tai: Next Phase To Begin On US-African Trade Relationship

According to Reuters, the office of US Trade Rep Katherine Tai, "is preparing to sign a memorandum of understanding with African Continental Free Trade Area countries to explore work on the next phases of the US-African trade relationship.

• Tai made the comments speaking at the Semafor summit, on the margins on the US-Africa Leaders' Summit which begins tomorrow in Washington DC where President Biden is expected to call for the African Union to be provided a seat on the G-20.
• Senator Chris Van Hollen (D-MD), Chair of the Senate Foreign Relations Subcommittee on Africa, said in a statement on Friday: “The African Continental Free Trade Area (AfCFTA) holds immense promise to spur economic development throughout the African continent by creating the largest single market in the world. The AfCFTA will also help expand opportunities for cooperation between the U.S. and African nations."
• Van Hollen has cosponsored legislation with Democrat Rep Karen Bass (D-CA) to, "develop a ten-year strategy to support AfCTA’s efforts to bolster intracontinental exports and to strengthen trade and investment ties between African countries and the United States."