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Last updated: 1 year ago
News and Updates
Recent News
Limited Trade Activity for Cultured Crystals Between US and Libya
Recent trade data indicates minimal activity in the export or import of cultured crystals (HS Code: 7104.90) weighing not less than 2.5 g each between the United States and Libya. No significant transactions have been reported in the last quarter.
2023-10-15
Impact: The lack of trade in this specific category suggests negligible economic impact or interest between the two countries for this product, potentially due to limited demand or supply constraints.
US-Libya Trade Barriers Affect Niche Products Like Cultured Crystals
Ongoing geopolitical tensions and trade restrictions between the US and Libya continue to hinder niche markets, including cultured crystals. No notable shipments or deals have been recorded recently for this commodity.
2023-08-22
Impact: Trade barriers and sanctions may be limiting opportunities for market development in specialized goods like cultured crystals, maintaining a status quo of minimal trade.
Market Analysis Shows No Recent US-Libya Transactions for Cultured Crystals
A market analysis report by a US trade agency highlights the absence of trade in cultured crystals (non-optical, over 2.5 g each) between the United States and Libya over the past year, citing political instability and lack of industrial demand in Libya.
2023-06-30
Impact: The absence of trade in this sector indicates a low priority for both nations, with potential for future trade remaining uncertain until political and economic conditions improve.
Policy Updates
US Maintains Restrictions on Trade with Libya
The US Department of Commerce has reiterated existing trade restrictions with Libya under the International Emergency Economic Powers Act, impacting various goods including niche products like cultured crystals. Certain exemptions exist, but no specific waivers for this HS Code have been announced.
Date: 2023-09-10
Libya's Import Regulations Remain Unchanged
Libyan authorities have not updated import policies regarding specialized goods such as cultured crystals. Restrictions on foreign exchange and import licensing continue to pose challenges for trade with the US and other countries.
