Stable with slight increase due to demand for precious metals in industrial applications.
Special Rates
Preferential Rate
0%
Applicable under specific trade agreements or exemptions for development purposes; requires documentation proving origin and purpose.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
Limited Gold Trade Activity Between US and Eritrea
Recent trade data indicates minimal to no recorded trade of gold (HS Code: 7108) or metal clad with gold between the United States and Eritrea. This reflects ongoing geopolitical tensions and limited economic engagement.
October 2023
Impact: Negligible impact on trade due to the absence of significant gold trade relations between the two countries.
US Sanctions Continue to Restrict Eritrea Trade
Ongoing US sanctions on Eritrea, related to human rights concerns and regional instability, have stifled potential trade in precious metals, including gold, with no recent transactions reported.
August 2023
Impact: Sanctions severely limit any potential for gold trade, maintaining a status quo of restricted economic interaction.
Eritrea's Gold Mining Potential Remains Untapped for US Markets
Despite Eritrea's growing gold mining sector, particularly from projects like the Bisha Mine, trade barriers and lack of diplomatic relations prevent the US from engaging in gold imports from Eritrea.
June 2023
Impact: Trade barriers continue to block potential US access to Eritrean gold, redirecting Eritrea's exports to other markets.
Policy Updates
US Maintains Sanctions on Eritrea
The US Department of Treasury continues to enforce sanctions on Eritrea under Executive Order 14046, citing human rights abuses and involvement in the Tigray conflict. These sanctions include restrictions on trade and investment, impacting potential gold trade.
Date: November 2021 (last reaffirmed October 2023)
