ASTIP Act of 2024

Foreign Trade and International Finance

house

senate

president

Introduced on May 6, 2024 by Sheila Cherfilus-McCormick

Cosponsors

Legislation Details

The legislation aims to strengthen the African Continental Free Trade Area (AfCFTA) and promote U.S.-Africa trade and investment partnerships.
Key findings highlight the potential of AfCFTA to significantly boost Africa’s economy, increase intracontinental exports, and reduce poverty.
The policy of the United States is to support AfCFTA, enhance trade and investment with Africa, and improve the effectiveness of U.S. development aid related to trade capacity building in Africa.
A roadmap will be developed by the U.S. Trade Representative, in coordination with other federal agencies, to promote AfCFTA and achieve specific goals related to trade and investment between the U.S. and Africa.
The roadmap includes evaluating industries for comparative advantage, expanding trade capacities, supporting AfCFTA implementation, and enabling participation of various stakeholders in trade negotiations.
The legislation authorizes the U.S. Trade Representative to work with the AfCFTA Secretariat and African governments to develop a partnership agreement focusing on various areas including manufacturing, agriculture, anti-corruption, digital trade, environmental protection, regulatory practices, and intellectual property.
An AfCFTA Trade Capacity Building Program will be established by the Administrator of the United States Agency for International Development to support the implementation of the strategy, with a budget authorization of $50,000,000 for each fiscal year from 2025 to 2034.
The Act clarifies that it does not limit the authority of the U.S. Trade Representative or the Administrator of the United States Agency for International Development regarding trade policy or development assistance.
Definitions provided in the Act include AfCFTA, African diaspora, African regional economic communities, and relevant congressional committees.

Last updated 12/20/2024

The legislation aims to strengthen the African Continental Free Trade Area (AfCFTA) and promote U.S.-Africa trade and investment partnerships.
Key findings highlight the potential of AfCFTA to significantly boost Africa’s economy, increase intracontinental exports, and reduce poverty.
The policy of the United States is to support AfCFTA, enhance trade and investment with Africa, and improve the effectiveness of U.S. development aid related to trade capacity building in Africa.
A roadmap will be developed by the U.S. Trade Representative, in coordination with other federal agencies, to promote AfCFTA and achieve specific goals related to trade and investment between the U.S. and Africa.
The roadmap includes evaluating industries for comparative advantage, expanding trade capacities, supporting AfCFTA implementation, and enabling participation of various stakeholders in trade negotiations.
The legislation authorizes the U.S. Trade Representative to work with the AfCFTA Secretariat and African governments to develop a partnership agreement focusing on various areas including manufacturing, agriculture, anti-corruption, digital trade, environmental protection, regulatory practices, and intellectual property.
An AfCFTA Trade Capacity Building Program will be established by the Administrator of the United States Agency for International Development to support the implementation of the strategy, with a budget authorization of $50,000,000 for each fiscal year from 2025 to 2034.
The Act clarifies that it does not limit the authority of the U.S. Trade Representative or the Administrator of the United States Agency for International Development regarding trade policy or development assistance.
Definitions provided in the Act include AfCFTA, African diaspora, African regional economic communities, and relevant congressional committees.