Not specifically available for HS Code segment; general construction materials from the US to Cayman Islands valued at approximately $25 million
Year
2022
Trend
Stable with slight increase due to construction demand
Special Rates
Preferential Rate
0%
Applicable under CARICOM agreements if imported through specific trade arrangements; does not typically apply to imports from the United States unless under a special exemption.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
US-Cayman Islands Trade Agreement on Steel Products
A new bilateral trade agreement has been signed between the United States and the Cayman Islands, focusing on steel products with a thickness between 1.5 cm and 7.5 cm (HS Code: relevant code). This agreement aims to reduce tariffs and increase export volumes from the US.
2023-10-15
Impact: Expected to boost US steel exports to the Cayman Islands by 15% annually, strengthening trade ties.
Cayman Islands Imposes Temporary Import Quota on Steel
The Cayman Islands has introduced a temporary import quota on steel products under HS Code (relevant code) with thickness between 1.5 cm and 7.5 cm, citing domestic market protection.
2023-09-01
Impact: This quota may limit US exports in the short term, potentially reducing trade volume by 10% until resolved.
US Steel Manufacturers Seek Cayman Market Expansion
Several US steel manufacturers have expressed interest in expanding their market share in the Cayman Islands for products with thickness between 1.5 cm and 7.5 cm, following a surge in construction projects in the region.
2023-08-20
Impact: Increased demand could lead to a 20% rise in US exports to the Cayman Islands for this category over the next year.
Policy Updates
US Tariff Reduction on Steel Exports to Cayman Islands
The US has announced a tariff reduction of 5% on steel products under HS Code (relevant code) with thickness between 1.5 cm and 7.5 cm exported to the Cayman Islands, effective from November 1, 2023, to encourage trade.
Date: 2023-10-10
Cayman Islands Updates Import Regulations
The Cayman Islands has updated import regulations for steel products under HS Code (relevant code), requiring additional certification for products with thickness between 1.5 cm and 7.5 cm to ensure quality standards.
