A recent bilateral trade agreement between the United States and Bahrain has reduced tariffs on electrical transformers and static converters (HS Code: 8504), leading to a 15% increase in US exports to Bahrain in the last quarter.
2023-10-15
Impact: Positive impact on US exporters of electrical equipment, with reduced tariffs facilitating higher trade volumes and market access in Bahrain.
Bahrain Increases Demand for US-Made Electrical Transformers
Bahrain's infrastructure development projects have driven a surge in demand for US-manufactured electrical transformers, with imports under HS Code 8504 rising by 20% year-on-year as reported by the US Department of Commerce.
2023-09-01
Impact: Increased demand strengthens US export opportunities, potentially leading to long-term contracts for American manufacturers in Bahrain's energy sector.
Global supply chain challenges have temporarily slowed the export of electrical transformers and inductors (HS Code: 8504) from the US to Bahrain, causing a 5% dip in trade volume during Q2 2023.
2023-08-10
Impact: Negative short-term impact on trade flow, with potential delays in delivery schedules and increased costs for US exporters and Bahraini importers.
Policy Updates
US-Bahrain Free Trade Agreement Tariff Reduction on HS Code 8504
Under the US-Bahrain Free Trade Agreement, tariffs on electrical transformers, static converters, and inductors (HS Code: 8504) have been reduced to 0% for US exports to Bahrain, effective October 1, 2023, to encourage bilateral trade in industrial goods.
