ASTIP Act of 2024

The ASTIP Act of 2024 establishes a U.S. strategy to strengthen trade and investment ties between the United States and African countries through the African Continental Free Trade Area (AfCFTA). It requires the President to submit an initial report within 270 days detailing a strategy with specific goals for expanding U.S. exports, supporting manufacturing growth, and improving digital trade infrastructure, with annual updates and a final report due 10 years later. The bill authorizes $50 million annually for a trade capacity building program to help African countries implement the AfCFTA, with a focus on supporting women-owned businesses, small enterprises, and modernizing customs procedures. The strategy must include measurable goals and address barriers to trade, while promoting inclusive economic growth across Africa.