; and (B) by striking paragraph (4) and inserting the following: (4) Eligible AfCFTA country The term eligible AfCFTA country means a country that the President has determined is eligible under section 506A(e) of the Trade Act of 1974. ; and (3) by striking former beneficiary sub-Saharan African countries each place it appears and inserting eligible AfCFTA countries . 5. Graduation of beneficiary sub-Saharan African countries (a) Graduation Section 506A of the Trade Act of 1974 ( 19 U.S.C. 2466a ) is amended by inserting after subsection (b) the following: (c) Mandatory graduation of high income countries (1) In general Except as provided by paragraph (2), if the President determines that a beneficiary sub-Saharan African country has been classified, under the official statistics of the International Bank for Reconstruction and Development, as a high income country for a period of 5 consecutive years, the President shall terminate the designation of the country as a beneficiary sub-Saharan African country for purposes of this section and as a beneficiary developing country for purposes of this title, effective on January 1 of the second year following the year in which that determination is made. (2) Exception After a country has been designated as high income for a period of 5 consecutive years as described in paragraph (1), the President may elect to maintain the designation of the country as a beneficiary sub-Saharan African country for purposes of this section and as a beneficiary developing country for purposes of this title for not more than an additional 5 years to allow for the negotiation of a free trade agreement with that country, in accordance with the policy described in section 116(a) of the African Growth and Opportunity Act ( 19 U.S.C. 3723(a) ). . (b) Conforming amendments Title V of the Trade Act of 1974 ( 19 U.S.C. 2461 et seq. ) is amended— (1) in section 502(e), by striking If the President and inserting Except as provided by section 506A(c), if the President