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Libya

US Revised Tariffs (%)

30

Ease of doing business

theboardiQ Tariffs Dashboard:

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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.

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Revised Tariff %
Original Tariff %
Country Tariff Rate %
Share of US Imports % (1 implies <1%)
30
31
4
1
Exports (in USD Bill.) 2024
Imports (in USD Bill.) 2024
Balance (in USD Bill.) 2024
0.57
1.47
-0.9

Implications

The trade landscape between the US and Libya has seen significant shifts as of early 2026, primarily driven by aggressive US tariff policies and a renewed push for energy cooperation.


Latest US Tariffs Update (Libya)


As of January 2026, Libya remains subject to heightened trade barriers initiated in April 2025.


  • Additional Duty Rate: The US maintains a 31% additional duty on all imports from Libya. This was enacted via Executive Order under the International Emergency Economic Powers Act (IEEPA).

  • Context: This "reciprocal" or penalty tariff is part of a broader administration strategy to pressure foreign governments on specific policy practices and reduce trade deficits.

  • Exemptions: While many general imports are hit, certain "strategic" natural resources and generic pharmaceuticals have seen intermittent exclusions to protect US supply chains.


Major Companies Impacted


The impact is a "tale of two sectors": high costs for importers but massive new opportunities for US energy giants.

Company

Impact Status

Nature of Impact

Chevron

Strategic Re-entry

Signed an MoU with Libya’s NOC in Jan 2026 for new oil/gas exploration after a 15-year hiatus.

ConocoPhillips

Expanding

Partnering in a $20B Waha oilfield project; aims to add 850,000 bpd capacity.

Halliburton

Growth Driver

Described 2026 as a "turning point"; mobilizing heavy equipment to Libya for oilfield services.

SLB (Schlumberger)

Optimistic

Reports improved certainty on payments from the Libyan government for services.

US Consumer Goods

Negative

Importers of Libyan specialty goods or raw materials face the 31% tax, often passed to consumers.

GDP & Trade Balance (YTD 2026)


  • Libya GDP Impact: Despite US tariffs, Libya's GDP is projected to grow by ~2.9% in 2026, driven by rebounding oil production (targeting 1.3 million bpd). However, the 31% US tariff acts as a drag on non-oil export diversification.

  • US GDP Impact: Broadly, the suite of 2025/2026 tariffs is estimated to reduce US long-run GDP by 0.5% to 0.7% due to increased costs and potential retaliation.

  • Country BOT (Balance of Trade): Libya continues to maintain a trade surplus, though it has narrowed.

    • 2025 Surplus: Estimated at ~8.5% of GDP.

    • 2026 Forecast: Projected surplus of 4.8% of GDP.

    • US-Libya Specific: The US typically runs a goods trade deficit with Libya (approx. $900M in 2024) due to oil imports, which the current tariffs aim to shrink.


SWOT Analysis: Libya Economy 2026

Strengths

Weaknesses

Huge oil reserves (48B barrels); high liquidity from energy; strategic location for EU/US markets.

Over-reliance on hydrocarbons (94%+ of exports); fragmented political leadership; weak private sector.

Opportunities

Threats

Massive infrastructure reconstruction needs; $20B new energy partnerships; expansion of renewable potential.

High sensitivity to global oil price dips; 31% US tariffs; risk of renewed civil conflict disrupting production.


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.

Investing in USA

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

Sources : ForbesUSDA 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.

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