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Wednesday, January 1, 2020

USA Sanctions: the worst awaits Cameroon from January 2020

The President of the United States of America has signed documents amending the articles of the African Growth and Opportunity Act (AGOA) to ensure the removal of the name of the Republic of Cameroon from the list of beneficiary countries in sub-Saharan Africa.

Donald Trump made the modification on December 26, 2019. 

It is more than a month after the United States Senate approved the removal of Cameroon from the list of countries in sub-Saharan Africa benefiting from preferential trade with the United States. 

The sanction takes effect from Wednesday, January 1, 2020. 

According to Donald Trump, “With regard to article 506A (a) (3) of the law on trade, Cameroon is not progressing in respecting the requirements described in section 506 (a) (1). ) of the law on commerce. ". 

This justifies the withdrawal of Cameroon from the list of beneficiaries, which means that trade between Cameroon and the United States from January 1 will not involve any preferential treatment as before.

Cameroon following the American decision to remove the country from the list of AGOA countries will now lose the sum of 200 billion dollars per year. 

According to Nyulsever Killian; an economist and management consultant, the macroeconomics of Cameroon will be affected because the decision of the United States has a significant impact on international trade. 

At the micro level, Nyulsever Killian declares: “… Cameroonian businessmen and individuals who exported their goods to America under preferential agreements in the AGOA agreement will have to spend more in the process of exporting their merchandise. This will indirectly affect their business activities and the corresponding lifestyle of their families. ” 

In addition to the economic impacts on Cameroon and Cameroonians following Cameroon's withdrawal from AGOA from January 1, 2020, critics believe that the simple action of the United States portrays diplomatic failure on the part of Cameroon. that this action tarnishes the image of Cameroon and could possibly affect the decisions of other countries wishing to sign trade agreements with Cameroon.