US trade lobby slams Biden’s delay in sealing Kenya deal


Economy

US trade lobby slams Biden’s delay in sealing Kenya deal


US President Joe Biden. PICTURES | SHUTTER

brianngugi_img

Summary

  • Calling the Kenya deal a low-hanging fruit that should have been done by now, the lobby, which is the largest and most influential US business group, accused the Biden administration of having delayed in signing the pact.
  • There is also growing unease in Nairobi over the Biden administration’s delay in concluding the free trade agreement with Kenya.
  • Kenya and the United States officially launched negotiations for the bilateral trade pact on July 8, 2020.

The US Chamber of Commerce has denounced the perceived delay by President Joe Biden’s administration in reaching a new trade deal with Kenya, which was initiated by his predecessor Donald Trump more than two years ago. .

Calling the Kenya deal a low-hanging fruit that should have been done by now, the lobby, which is the largest and most influential US business group, accused the Biden administration of having delayed in signing the pact.

“As other economies rush to sign new deals, the United States has not had a deal with a trading partner in a decade,” House Speaker Suzanne Clark said in an update. up to date.

“And the current administration consumed by caution and internal reviews is doing little to change that. In fact, it has yet to reap even the lowest fruits, such as trade deals that were already underway the UK and Kenya, some of our closest allies.

She spoke as US officials remained coy about the future of the deal after a meeting with Kenyan officials held in Nairobi earlier this month.

His remarks also come as US rivals like China and Japan are seen as shaping business practices around the world, including in Kenya.

There is also growing unease in Nairobi over the Biden administration’s delay in concluding the free trade agreement with Kenya.

Kenya and the United States officially launched negotiations for the bilateral trade pact on July 8, 2020.

Nairobi is keen to sign a new trade deal with Washington before the current deal expires under the Africa Growth and Opportunity Act (Agoa), which allows countries in sub-Saharan Africa to export thousands of products to United States without tariffs or quotas until 2025. .

Agoa grants 40 African states quota and duty-free access to the US market for over 6,000 product lines.

Kenya is currently the 96th largest trading partner of the United States, according to Washington.

[email protected]

Previous Will Russia nudge Biden down the path of techno-nationalism?
Next BHP is full of money if spot prices remain stable