New legislation looks to boost overseas business with Africa, Cuba
President Joe Biden wants to build stronger trade and investment ties with Africa.
The Trump administration had been working on a trade deal with Kenya, but COVID-19 delayed the negotiations; although, some barriers were resolved.
The African Growth and Opportunity Act extends trade preferences to eligible countries in Africa and requires a summit with African leaders every two years. Biden has resumed this virtually for now with hopes to meet in person later this year.
Meanwhile, Congress introduced legislation to open up trade between the United States and Cuba.
The U.S. Cuba Trade Agreement would repeal sanctions against the island nation and would establish normal trade relations with them. Four Senators signed onto the bill sponsorship aimed at reversing Trump era policies banning travel, trade, and investment in Cuba.