South Africa is at risk of losing part of its preferential access to the US if its trade policies disadvantage American exporters. South Africa is at risk of losing 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. That would require Biden to develop an interagency long-term strategy on infrastructure development and technical support to promote African continental trade. Biden is also due to throw his backing behind the African Union getting permanent membership in the Group of 20 during the summit. The summit "is really about the US and Africa enhancing economic ties in its own right," Bianchi said.

Source: News 24 December 12, 2022 11:53 UTC