South Africa resolves AGOA dispute
The dispute centred on the importation of chicken from the US amid health fears.
President Obama had set the end of 2015 as the deadline to resolve the dispute.
Last-minute negotiations which dealt with South African health concerns ended the row.
South Africa and other African countries have had a preferential trade agreement with the US for a decade under the African Growth and Opportunity Act (AGOA).
The trade deal was worth more than $170m (£117m) a year to South African farmers exporting citrus fruits, wine and nuts.
South Africa's Trade Minister Rob Davies said, when announcing that a deal had been struck, that 32,000 jobs depended on AGOA.