Semafor published on 19 January 2026 a commentary titled "The Flaws of 'Trade Not Aid'" by Daniele Nyirandutiye, Desmos Capital Partners.
The State Department unveiled early last year a "Commercial Diplomacy Strategy for Africa" that focused on trade and investment as the centerpiece of engagement. The author of the commentary in Semafor argues that trade and aid were never meant to compete. When strategically aligned, they unlock Africa's growth. But commercial diplomacy without development capacity is not viable. US private direct investment can play a more useful role, but only if there are adequate incentives in Washington and technical capacity at embassies to assist the private sector.
Comment: The author makes a particularly good point when it comes to trade. US goods trade with sub-Saharan Africa peaked in 2008 and has generally declined since, due primarily to the sharp reduction by the United States in the importation of African oil. But US goods exports to sub-Saharan Africa have never been impressive, peaking at $25 billion in 2014 and remaining at less than $20 billion in subsequent years. While increased US-Africa trade is an important goal for both parties and should be encouraged, it is utter fantasy to conclude that trade will replace aid.