Stable, with a slight increase of 3% compared to 2021
Special Rates
Preferential Rate under CARICOM-US Trade Agreements
0%
Applicable to goods meeting rules of origin under the Caribbean Basin Initiative (CBI) or other trade agreements between Belize and the United States.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
U.S. Increases Imports of Crude Oil from Belize Under HS Code for Testing 25 Degrees A.P.I. or More
Recent data shows a slight uptick in U.S. imports of crude oil testing 25 degrees A.P.I. or more from Belize, reflecting a growing interest in diversifying energy sources amid global supply chain concerns.
2023-10-15
Impact: This could strengthen trade ties between the U.S. and Belize, potentially leading to more consistent import volumes and fostering bilateral energy agreements.
Belize Expands Oil Export Capacity to Meet U.S. Demand
Belize has announced investments in infrastructure to boost its crude oil export capacity, specifically targeting the U.S. market for products under HS Code classifications like testing 25 degrees A.P.I. or more.
2023-09-20
Impact: Enhanced export capacity may increase Belize's market share in the U.S., potentially lowering costs for U.S. importers if supply stabilizes.
U.S. Customs Updates Reporting Requirements for Belizean Oil Imports
U.S. Customs and Border Protection issued a notice for stricter documentation on crude oil imports from Belize under specific HS Codes, including those testing 25 degrees A.P.I. or more, to ensure compliance with trade agreements.
2023-08-05
Impact: This may temporarily slow down trade due to increased administrative burden, though it aims to ensure transparency and fair trade practices.
Policy Updates
U.S. Revises Tariff Classification Guidelines for Crude Oil Imports
The U.S. International Trade Commission updated guidelines for HS Code classifications related to crude oil testing 25 degrees A.P.I. or more, affecting imports from countries like Belize. The update includes new reporting standards to align with international trade agreements.
