The U.S.-Africa Strategic Trade and Investment Partnership Act of 2024 directs the federal government to develop and implement a comprehensive strategy supporting the African Continental Free Trade Area, a massive trade agreement among African nations that is projected to significantly boost economic growth across the continent. The bill requires the U.S. Trade Representative to submit an initial report within 270 days outlining how the United States can increase trade and investment with Africa, followed by biennial updates for eight years and a final assessment after ten years, with regular consultation with African partners and American stakeholders including small businesses, workers, and the African diaspora. The legislation authorizes $50 million annually from 2025 through 2034 for the U.S. Agency for International Development to establish a dedicated AfCFTA Trade Capacity Building Program that will provide technical assistance and support African countries in implementing the trade agreement. The strategy covers multiple areas including manufacturing expansion, agricultural trade, anti-corruption measures, digital commerce, environmental protection, labor rights, and support for women and youth entrepreneurs. This bill aims to position American businesses to benefit from Africa's anticipated economic growth while helping African nations build stronger trade infrastructure and capabilities.
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