US raises red flags over South African trade agreements (BT)
South Africa could lose part of its preferential access to the US if its trade policies disadvantage American exporters relative to their developed-nation counterparts, according to people familiar with the matter. Thousands of South African products enter the world’s biggest market duty-free under the African Growth and Opportunity Act, or AGOA, and the so-called Generalized System of Preferences, or GSP. South Africa shipped more than $15 billion’s worth of goods to America last year, with $2.7 billion’s worth cleared under the two accords, US government data show. AGOA is due to expire in 2025, and US officials have previously said the qualifying criteria for beneficiaries could be revised, or the program may be replaced. Click here to read full article.
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