Increasing American Jobs Through Greater Exports to Africa
The bipartisan “Increasing American Jobs Through Greater Exports to Africa Act of 2012,” introduced in the U.S. House and the Senate, calls on the Obama administration to develop a U.S. trade and investment strategy for Africa and to triple American exports to the African region in order to create new U.S. jobs. The most significant U.S. legislation on Africa since the African Growth and Opportunity Act, the bill would establish a much-needed trade and investment agenda in a continent increasingly dominated by China and other trading partners. Mutually beneficial to both the United States and Africa, the legislation marks an important turning point for U.S. engagement with African markets.
On May 8, the Africa Growth Initiative at Brookings hosted Sen. Richard Durbin (D-Ill.), the assistant majority leader, and Rep. Chris Smith (R-N.J.), chairman of the House Subcommittee on Africa, Global Health and Human Rights—sponsors of the respective House and Senate bills—for a discussion on how this legislation can help increase U.S. trade and investment to Africa through job creation at home. Vice President Kemal Derviş, director of Global Economy and Development at Brookings, provided introductory remarks and Senior Fellow Mwangi Kimenyi, director of the Africa Growth Initiative, moderated the discussion.
مشاهدة البث الحي في اللغة العربية »
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The U.S. still has some leverage over China, because China clearly wants a deal. ... U.S. financial markets also seem to have been boosted by the prospects of a U.S.-China trade deal, so I think it could have a negative effect on both financial markets and economic activity in both countries if a deal is not struck