Botswana diamonds could soon enter the US market duty-free

As global diamond prices tumble and trade tensions rise, Botswana’s President Duma Boko is leading a bold diplomatic push to protect the nation’s most prized industry. He has indicated that discussions are in an advanced stage, and that the two nations are “on the verge of reaching an agreement. Botswana is nearing a zero-tariff trade deal with the US, a move that could significantly reshape the Botswana diamonds industry. 

But behind the cautious optimism lies a deeper story, one of a small but resource-rich nation fighting to redefine its place in a global system often tilted in favour of powerful economies.

Yet, the U.S. currently plans to impose a 15% tariff on diamonds that are cut and polished within Botswana — an ironic penalty for a nation trying to build value locally rather than exporting raw stones.

According to Business Insider Africa, in 2023, Botswana’s exports to the U.S. were worth approximately $500 million; however, this success is now under strain. Global demand for diamonds has fallen by half, and new U.S. tariffs have made recovery even harder.