News Summary

• Beijing has recently removed tariffs on many imports from Africa for the next two years.
• China wants access to Africa’s resources and the continent wants to build industries and jobs and move up the value chain.
• The trade development has occurred as China is expanding its influence in Africa and the US appears to be pulling back from the continent.
• For more than a decade, Chinese money has helped finance roads, railways and ports across Africa.
• But Chinese exports to Africa far exceed African exports to China.
• Many African nations remain heavily reliant on exporting raw commodities while importing manufactured goods.