US-Eswatini Trade Agreement on EV Battery Components
A new bilateral trade agreement between the United States and Eswatini has been signed to facilitate the export of components classified under HS Code 8507.60 (lithium-ion batteries) for electrically powered vehicles. This aims to boost Eswatini's role as a supplier in the EV supply chain.
2023-10-15
Impact: This agreement is expected to increase Eswatini's exports of EV battery components to the US, potentially strengthening economic ties and supporting the US's push for sustainable energy solutions.
US Increases Import Quotas for Eswatini EV Power Sources
The US has raised import quotas for specific electrical power sources (HS Code related to EV batteries) from Eswatini under the African Growth and Opportunity Act (AGOA), encouraging more trade in components for vehicles of subheadings 8703.40 to 8703.80.
2023-09-22
Impact: The increased quota is likely to enhance Eswatini's market access to the US, fostering growth in its manufacturing sector for EV components.
Eswatini Seeks US Investment in EV Battery Production
Eswatini's government has initiated talks with US investors to develop local production of primary electrical power sources for EVs, targeting HS Code classifications related to subheadings 8703.40 to 8703.80, to meet growing US demand.
2023-08-10
Impact: If successful, this could lead to a significant rise in US-bound exports of EV power components from Eswatini, creating jobs and deepening trade relations.
