Business Daily What next for US-Africa relations under a second Trump administration?
Jan 16, 2025
The potential impact of a second Trump administration on U.S.-Africa relations sparks lively discussion. Kenyan economists share insights on how trade policies could evolve, along with concerns from local business owners. The critical role of remittances from the African diaspora, exceeding $90 billion, is emphasized, showcasing their importance for many African economies. Additionally, the effects of U.S. immigration policies on migration flow and family stability in Africa are examined, painting a vivid picture of interconnected economies and migrant experiences.
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Trump's Inward Focus
- Trump's focus during his first term seemed to be more inward, prioritizing domestic economic policies.
- This led to a decline in US direct investment in Africa compared to the Obama era.
Declining US Investment
- US direct investment in Africa decreased from nearly $69 billion in 2014 under Obama to about $45 billion when Trump left office.
- This illustrates a potential shift in US economic priorities during Trump's first term.
Prosper Africa Initiative
- The Prosper Africa initiative, launched by Trump, aimed to boost trade between the US and Africa.
- It leverages US government agencies to connect investors, suggesting a potential avenue for future growth.