A recent bilateral trade agreement between the United States and the Bahamas has facilitated increased exports of electrical transformers with a power handling capacity not exceeding 50 kVA (HS Code: 8504.21.00). The agreement reduces tariffs, promoting smoother trade flows.
2023-10-15
Impact: Positive impact on US exporters due to reduced tariffs and increased market access in the Bahamas for electrical equipment under 50 kVA.
Bahamas Increases Demand for US-Made Transformers
Infrastructure development projects in the Bahamas have led to a surge in demand for US-manufactured electrical transformers under 50 kVA, with a reported 15% increase in imports from the US in Q3 2023.
2023-09-20
Impact: Significant growth in export opportunities for US manufacturers of low-capacity transformers to meet Bahamas' infrastructure needs.
Global supply chain bottlenecks have temporarily slowed the export of electrical transformers (under 50 kVA) from the US to the Bahamas, causing delays in delivery and a slight dip in trade volume for July 2023.
2023-08-05
Impact: Negative short-term impact on trade volume due to logistical challenges, though recovery is expected as supply chains stabilize.
Policy Updates
US-Bahamas Tariff Reduction on Electrical Equipment
The US and Bahamas have agreed to lower import duties on electrical machinery, including transformers with a power handling capacity not exceeding 50 kVA (HS Code: 8504.21.00), as part of a broader trade facilitation initiative effective from October 2023.
