Botswana is in the process of negotiating zero tariffs on its diamonds exported to the US.
This was disclosed by President Advocate Boko on Tuesday while addressing the media on the sidelines of the US-Africa summit held in Luanda, Angola. President Boko revealed that the government is negotiating for zero tariffs, particularly on export diamonds to the United States. Boko stated that it remains Botswana’s position to have a strong relationship with the United States government and that an ease of tariffs be achieved.
Boko further stated that regarding zero diamonds export tarriffs, the negotiations between the two governments were ongoing and that the deferred action on tariffs is desired to be extended.
In his view, Boko noted that imposed US tariffs would impact the already fragile diamond market.
“It is a huge challenge because our local diamonds have been faced with a dismay. If the tariffs are to be enforced, that would mean they will be bought due to higher tariffs,”he said.
Additionally, the president explained that in the negotiation plan, his government forecasts zero tariffs and that a sustainable trade plan with the US be achieved.
“It is important for us to continue the talks as we have a deadline for negotiations on tariffs, we hope that by the 8th of July a further deferment will be made on tariffs,” he noted.
Addressing a press conference in Gaborone on Wednesday afternoon, Boko reiterated calls for the US to drop tariffs on Botswana diamond exports. He stressed that he was willing to negotiate this on behalf of the people of Botswana if the US President Donald Trump was to ask for a meeting with him now. He emphasised that Botswana is a leading diamond producer and, as such, diamonds have anchored its development. However, even in the face of Trump’s tariffs and a global slump in the diamond market, Boko expressed optimism that there will be a rebound in the long run.
Botswana’s position for tariff drop comes against the backdrop of a 37% hike on diamond imports from Botswana imposed by the President Trump administration. According to economic pundits, the tariffs could severely impact Botswana with its already volatile diamond reliant economy.
Meanwhile, the US remains one of Botswana’s long-standing trade partners serving as its market for diamonds alongside countries like United Arab Emirates, China, Belgium, and India, amongst others. The two countries enjoy cordial relations.
