top of page

Libya

US Revised Tariffs (%)

10

Ease of doing business

theboardiQ Tariffs Dashboard:

Powering Mutually Beneficial Global Trade.

 

Understand the complexities of international tariffs and ease of doing business across nations to cultivate balanced trade relationships, streamline operations, and deliver cost savings to end consumers.

david-whipple-mU-wz7JlJMc-unsplash_Ravid.jpg
Share of US Imports % (1 implies <1%)
US Tariff %
Revised Tariff %
Country Tariff Rate %
1
31
10
4
Exports (in USD Bill.) 2024
Imports (in USD Bill.) 2024
Balance (in USD Bill.) 2024
0.57
1.47
-0.9

US Revised Tariffs

Country Tariffs

Balance of Trade

Commercial Guide

Learn about the market conditions, opportunities, regulations, and business conditions in countries, prepared by U.S. Embassies worldwide, Commerce Department, State Department and other U.S. agencies’ professionals

Trade.Gov Fact Sheet

Tariff Rate for US

World Bank staff estimates using the World Integrated Trade Solution system, based on tariff data from the United Nations Conference on Trade and Development's Trade Analysis and Information System ( TRAINS ) database and global imports data from the United Nations Statistics Division's Comtrade database.

US Imports Guide 

United States Imports from Countries during 2024, according to the United Nations COMTRADE database on international trade. United States Imports from Countries- data, historical chart and statistics - was last updated on April of 2025.

Implications

As of Sunday, April 20, 2025, the most significant recent update regarding tariffs on Libya involves actions taken by the United States. United States Tariffs on Goods from Libya: On April 2, 2025, the Trump administration announced new "reciprocal tariffs" on imports from numerous countries, including Libya.   Libyan exports to the United States are now subject to a 31% tariff.   The U.S. administration stated that this measure is part of a "trade rebalancing" initiative, noting that Libya imposes a 61% tariff on imports from the United States.   However, on April 9, 2025, the U.S. announced a 90-day pause on these reciprocal tariffs for most countries.   Crucially, Libya was NOT explicitly mentioned as being included in this 90-day pause. This suggests that the 31% tariff on Libyan exports to the U.S. remains in effect. Libya's Perspective on the US Tariffs: The Libyan Customs Authority has stated that the newly imposed U.S. tariffs are unlikely to have a significant impact on Libya.   They clarified that Libya does not export substantial manufactured goods to the United States, with the majority of its exports being crude oil.   News reports indicate that crude oil often receives exemptions from such newly imposed tariffs. The Libyan Customs Authority also highlighted that Libya already imposes a 61% tariff on U.S. imports, further limiting the trade exchange between the two countries.   Potential Impact on Libya: Despite the Libyan Customs Authority's assessment, some reports suggest that the 31% tariff could significantly impact Libya's exports to the U.S., particularly crude oil, which constituted the vast majority of its $1.57 billion exports to the U.S. in 2023. Simulations suggest that these tariffs could lead to a near-total collapse of Libyan exports to the U.S. due to a loss of competitiveness. There is a possibility that these tariffs could push Libya to strengthen trade ties with other global players, such as China and Russia. Libyan Trade Policy in General: Libya's foreign trade is heavily reliant on oil exports.   The average applied tariff rate in Libya is relatively low, around 5.2%. Libya is a member of the Greater Arab Free Trade Area (GAFTA), offering tariff exemptions with other member countries.   Libya has applied for accession to the World Trade Organization (WTO), but negotiations have been stalled due to the ongoing internal conflict.   In summary, the most recent tariff update concerning Libya is the imposition of a 31% tariff by the United States on Libyan exports. While the U.S. has paused these new tariffs for most countries, it's not definitively clear if Libya is included in this pause. The Libyan Customs Authority believes the impact will be minimal due to the nature of their exports to the U.S., but other reports suggest potentially significant consequences, especially for oil exports.

US Negotiation Strategy

Based on the most recent data (2024), the top imports to the US from Libya by value are: Mineral fuels, oils, distillation products ($1.49 Billion) Works of art, collectors' pieces and antiques ($1.12 Million) Vegetable plaiting materials, vegetable products ($313.02 Thousand) Commodities not specified according to kind ($302.38 Thousand) Inorganic chemicals, precious metal compound, isotope ($122.03 Thousand) Here's a look at which states in the US can manufacture similar goods, along with examples of companies: Mineral fuels, oils, distillation products (Crude Petroleum): Texas: The largest oil-producing state in the US. Major companies include ExxonMobil (Irving), Chevron (Houston), ConocoPhillips (Houston).   North Dakota: Has seen a significant increase in oil production from the Bakken formation. Companies include Continental Resources (Oklahoma City, OK, with operations in ND), Hess Corporation (New York, NY, with operations in ND).   Alaska: Holds substantial oil reserves. While BP (headquartered in Houston, TX) has sold its upstream Alaska business, other companies like ConocoPhillips (Houston, TX) still have significant operations there. California: Has a long history of oil production, although it has decreased in recent years. Companies include Chevron (San Ramon), Aera Energy (Bakersfield, jointly owned by ExxonMobil and Shell).   Louisiana: A major hub for offshore drilling and refining. Companies include Shell (Houston, TX, with significant LA operations), Marathon Petroleum (Findlay, OH, with refineries in LA).   Works of art, collectors' pieces and antiques: This is less about traditional manufacturing and more about individual artists, artisans, and antique dealers spread across the US. States with significant arts and cultural centers include: New York: New York City is a global hub for art galleries, auction houses (like Sotheby's and Christie's), and individual artists.   California: Los Angeles and the San Francisco Bay Area have thriving art scenes and numerous antique shops and galleries. Illinois: Chicago has a significant artistic and cultural presence.   Massachusetts: Boston and surrounding areas have a rich history and a strong market for antiques and fine art. Vegetable plaiting materials, vegetable products: This is a broad category that could include things like basket-weaving materials or processed plant-based products. Manufacturing would be diverse and depend on the specific product. Examples could include: California: Agriculture is a major industry, including the processing of various vegetable products. Companies range from large food processors to smaller specialty food producers.   Iowa: A leading state in corn and soybean production, which can be used in various manufactured goods. Companies include ADM (Chicago, IL, with significant operations in IA) and Cargill (Wayzata, MN, with facilities in IA).   Commodities not specified according to kind: This is a very general category and difficult to pinpoint specific manufacturing states or companies without more detail on what these unspecified commodities are. Inorganic chemicals, precious metal compound, isotope: Louisiana: A major center for chemical manufacturing. Companies include Dow Chemical (Midland, MI, with significant LA operations), BASF (Ludwigshafen, Germany, with substantial US operations including LA).   Texas: Also has a large chemical manufacturing industry along the Gulf Coast. Companies include LyondellBasell (Houston).   Michigan: Has a significant chemical manufacturing sector. Companies include Dow Chemical (Midland).   Idaho: Home to the Idaho National Laboratory, which conducts nuclear research, including isotope production.   It's important to note that while these states have companies involved in the general sectors of Libya's top imports, the specific types and grades of products might differ. For instance, while Texas produces a lot of crude oil, the specific characteristics of Libyan crude might necessitate its import for certain refineries or specialized uses. Similarly, the "commodities not specified" are impossible to address without further clarification.

Investing in USA

theboardiQ Economic Relevance Score, ranks States of USA based on 11 parameters

​

Sources : Forbes | USDA Economic Research | TCGen Total Innovation Rank Index | Best States for Manufacturing | World Population Review | Tax Foundation | US News | BEA Data | Wikipedia | International Trade Administration

​

theboardiQ's Economic Relevance Score provides a comprehensive, data-driven assessment of a nation's economic vitality and global significance. This score is meticulously calculated using 11 key parameters, each reflecting a critical facet of economic performance. It analyzes the representation of Fortune 500 companies within a nation, a strong indicator of its business environment and market size. The balance of trade surplus or deficit reveals the nation's international competitiveness and export strength. It incorporates Gross Domestic Product (GDP), a fundamental measure of overall economic output, and examine the health of key sectors like agriculture and manufacturing. The score also accounts for innovation, gauging a nation's ability to drive future growth through technological advancements. Crucial labor market indicators such as employment rates are considered, alongside fiscal policies reflected in tax rates. To capture the lived experience of citizens, it assesses cost of living and disposable income, providing insight into purchasing power and economic well-being. Finally, education levels are integrated, recognizing their pivotal role in fostering a skilled workforce and driving long-term economic development. By synthesizing these 11 parameters, theboardiQ's Economic Relevance Score delivers a nuanced and holistic view of a nation's economic standing, enabling informed strategic decisions. The Top 5 States in the assessment are Texas, North Carolina, Virginia, Florida and Washington. Texas does consistently well across most of the 11 variables especially in the areas of GDP, F500 representation in the State, Balance of Trade where it ranks 2nd nationally. North Carolina scores as the highest-ranking state nationally in manufacturing and performs consistently across the other variables. Virginia does well in disposable income where it ranks 3rd nationally. It also scores high in the variables of manufacturing and employment Florida holds the 4th ranking nationally for GDP and Tax Washington State scores the top spot for disposable income nationally, 2nd for education and 3rd for innovation. Colorado, with an overall rank of 7 scores the top spot for Education (schools and higher education). Nebraska, that ranked 10th overall, did well in Agriculture where it is ranked 3rd nationally as well as Trade Balance where it ranked 5th. Illinois, though ranked 20th overall did well nationally in F500 representation, GDP, Agriculture, and Disposable Income. Pennsylvania comes in at 21 overall doing well nationally in GDP (6th); Manufacturing (8th) and F500 representation (8th) New York scores 23rd overall with a 2 ranking in Disposable Income nationally, as well as 3rd in both F500 representation and GDP. California comes in at 29th overall and has the top spot ranking in a whopping 4 variables nationally – GDP, Innovation, Agriculture and F500 representation. However, performance in the areas of Trade Balance, Cost of Living, Tax, Manufacturing and Employment resulted in the overall ranking dipping. Wyoming at 30th overall scores the top spot nationally in the area of Tax Massachusetts at 31 overall does well in innovation where it is ranked 2nd nationally Arkansas at 36 and Alabama at 39, do well in overall Cost of Living where they are ranked 2nd and 3rd nationally, respectively. Louisiana ranked 44th overall is ranked 1st in Trade Balance nationally.

theboardiQ Logo

Economic
Relevance
Ranking

Get Great Talent. Subscribe.

Thanks for subscribing!

Info@theboardiq.com

265 Garnet Dr 

Livermore, CA 94550

  • Youtube
  • LinkedIn
  • X
  • Facebook
bottom of page