Harmful Shifts in the US Economy Without a New Beginning for AGOA?

Still think the economy is sluggish?  

(photo courtesy of U.S. CIA)

The gridlock in Congress isn’t helping and with their delays in reauthorizing trade agreements like the African Growth and Opportunity Act (AGOA), U.S. companies whose existence rely upon duty-free African imports – whether in fashion, retail, beauty, foodstuffs, or otherwise - are going to start laying off people as the uncertainty with respect to AGOA renewal mounts.

Here’s a snapshot of reasons, recommendations, and how you can support AGOA renewal in 2015.

AGOA renewal is important not only for keeping existing companies in business but also for the expansion of other US companies who find markets within African economies.

A rise in African exports equals increased spending power amongst African consumers, and with President Obama’s export promotion initiative in place, this means that US exports have a greater chance for success when expanding into these foreign markets. 

A growing African labor force could also lead to more stable economies and increase good governance.  With greater economic development and stability, there will be less of an incentive to join radical groups known to be destructive and that pose a threat to the world at large, as there will instead be a viable alternative to have a life with meaning and, hence, a vested interest in creating a common good for society as a whole.

Now is the time to make your voice heard if you want Congress to vote for the reauthorization of the AGOA trade agreement.  Send letters to all of the members of the House Ways and Means Committee and the Senate Finance Committee, calling for:

1) The expeditious passage of AGOA

2) Renewal for a term of 15 years

3) Such passage to include all current member states

With this, provide a statement highlighting how economic development and stabilization function as a mechanism to combat terrorism.

The AGOA reauthorization is currently being drafted by Congress, so now is the time to get your letters in and make your voice heard if you want to keep US businesses in business and open up foreign markets to US exports.  

Questions/comments?  Post below or email me at clark.deanna@gmail.com

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