US-Bermuda Trade Agreement Boosts Electric Vehicle Battery Exports
A new trade agreement between the United States and Bermuda has facilitated an increase in the export of batteries used as the primary source of electrical power for electric vehicles (HS Code related to subheadings 8703.40-8703.80). The agreement reduces tariffs on these components, promoting cleaner transportation solutions in Bermuda.
2023-10-15
Impact: Positive impact on trade with reduced tariffs likely to increase US exports of electric vehicle batteries to Bermuda, fostering growth in the EV sector.
Bermuda Increases Import Demand for US-Made EV Batteries
Bermuda's push towards sustainable transportation has led to a surge in demand for US-manufactured batteries for electrically powered vehicles. This follows Bermuda's recent incentives for electric vehicle adoption.
2023-09-22
Impact: Increased demand from Bermuda is expected to boost US exports of EV batteries, strengthening trade ties in the green technology sector.
Logistics Challenges Affect US-Bermuda EV Battery Shipments
Recent shipping delays and logistical bottlenecks have temporarily disrupted the supply of electric vehicle batteries from the US to Bermuda, impacting the availability of components for electrically powered vehicles under HS subheadings 8703.40-8703.80.
2023-08-30
Impact: Negative short-term impact on trade due to delays, potentially affecting Bermuda's EV market growth and US export timelines.
