AGOA Extension Act of 2023

Bill: 118-s-2952
Sponsor: full_name: Sen. Kennedy, John [R-LA]
Introduced: 2023-09-27
Policy area: Foreign Trade and International Finance
Latest action: action_date: 2023-09-27
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2023-09-27
action_desc: Introduced in Senate
text: <p><strong>AGOA Extension Act of 2023</strong></p><p>This bill extends through September 30, 2045, the duty-free treatment of the products of beneficiary sub-Saharan African countries under the Trade Act of 1974 and the African Growth and Opportunity Act.</p><p>The extended period also applies to</p><ul><li>the preferential treatment of apparel articles wholly assembled, or components knit-to-shape and wholly assembled, in one or more beneficiary sub-Saharan African countries from yarns originating in the United States or one or more beneficiary sub-Saharan African countries or former beneficiary sub-Saharan African countries, or both; and</li><li>the third-country fabric program granting duty-free treatment of apparel articles wholly assembled, or knit-to-shape and wholly assembled, or both, in one or more lesser developed beneficiary sub-Saharan African countries, regardless of the country of origin of the fabric or the yarn used to make such articles.</li></ul><!--tinycomments|2.1|data:application/json;base64,eyJtY2UtY29udmVyc2F0aW9uXzMzMDcwNzg0OTIxNzI0NjgyMTkwNDk1Ijp7InVpZCI6Im1jZS1jb252ZXJzYXRpb25fMzMwNzA3ODQ5MjE3MjQ2ODIxOTA0OTUiLCJjb21tZW50cyI6W3sidWlkIjoibWNlLWNvbnZlcnNhdGlvbl8zMzA3MDc4NDkyMTcyNDY4MjE5MDQ5NSIsImF1dGhvciI6Indob3dhcmRAbGliLmxvYy5nb3YiLCJhdXRob3JOYW1lIjoid2hvd2FyZEBsaWIubG9jLmdvdiIsImNvbnRlbnQiOiJDb3BpZWQgZnJvbSBQTCAxMTQtMjcsIFNlYy4gMTAzIiwiY3JlYXRlZEF0IjoiMjAyNC0wOC0yNlQxNDoyMzoxMC40OTVaIiwibW9kaWZpZWRBdCI6IjIwMjQtMDgtMjZUMTQ6MjM6MTAuNDk1WiJ9XX19-->

tv_txt: II 118th CONGRESS 1st Session S. 2952 IN THE SENATE OF THE UNITED STATES September 27 (legislative day, September 22), 2023 Mr. Kennedy introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To extend the African Growth and Opportunity Act.

1. Short title This Act may be cited as the AGOA Extension Act of 2023 . 2. Findings; sense of Congress (a) Findings Congress makes the following findings: (1) Since its enactment in 2000, the African Growth and Opportunity Act ( 19 U.S.C. 3701 et seq. ) has been the centerpiece of trade relations between the United States and sub-Saharan Africa and has enhanced trade, investment, job creation, and democratic institutions throughout Africa. (2) Trade and investment, as facilitated by the African Growth and Opportunity Act, promote economic growth, development, poverty reduction, democracy, the rule of law, and stability in sub-Saharan Africa. (3) Since its initial enactment, the trade preference program under the African Growth and Opportunity Act, which has bipartisan support, has played an integral role in creating economic opportunity in sub-Saharan Africa, as well as supporting nearly 120,000 jobs in the United States. (b) Sense of Congress It is the sense of Congress that— (1) it is in the interest of the United States to engage and compete in emerging markets in sub-Saharan African countries, to boost trade and investment between the United States and sub-Saharan African countries, and to renew the African Growth and Opportunity Act; (2) the long-term economic security of the United States is enhanced by strong economic and political ties with the fastest-growing economies in the world, many of which are in sub-Saharan Africa; (3) it is a goal of the United States to further integrate sub-Saharan African countries into the global economy, stimulate economic development in Africa, and diversify sources of growth in sub-Saharan Africa; (4) the elimination of barriers to trade and investment in sub-Saharan Africa, including high tariffs, forced localization requirements, restrictions on investment, and customs barriers, will create opportunities for workers, businesses, farmers, and ranchers in the United States and sub-Saharan African countries; and (5) extending the African Growth and Opportunity Act for 20 years provides stability for all parties involved and creates more time before Congress must again address its expiration. 3. Extension of African Growth and Opportunity Act (a) In general Section 506B of the Trade Act of 1974 ( 19 U.S.C. 2466b ) is amended— (1) by striking section 506A(c) and inserting section 506A(e) ; and (2) by striking September 30, 2025 and inserting September 30, 2045 . (b) African Growth and Opportunity Act (1) In general Section 112(g) of the African Growth and Opportunity Act ( 19 U.S.C. 3721(g) ) is amended by striking September 30, 2025 and inserting September 30, 2045 . (2) Extension of regional apparel article program Section 112(b)(3)(A) of the African Growth and Opportunity Act ( 19 U.S.C. 3721(b)(3)(A) ) is amended— (A) in clause (i), by striking 21 succeeding and inserting 41 succeeding ; and (B) in clause (ii)(II), by striking September 30, 2025 and inserting September 30, 2045 . (3) Extension of third-country fabric program Section 112(c)(1) of the African Growth and Opportunity Act ( 19 U.S.C. 3721(c)(1) ) is amended— (A) in the paragraph heading, by striking September 30, 2025 and inserting September 30, 2045 ; (B) in subparagraph (A), by striking September 30, 2025 and inserting September 30, 2045 ; and (C) in subparagraph (B)(ii), by striking September 30, 2025 and inserting September 30, 2045 .