Stable with slight increase of 2% compared to 2021
Special Rates
Preferential Rate
0.0%
Applicable under the US-Faroe Islands Trade Agreement if proof of origin is provided and goods meet specific criteria.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
Limited Trade Activity for HS Code 8501.34 (Output Exceeding 75 kVA) Between US and Faroe Islands
Recent trade data indicates minimal activity for electrical motors and generators exceeding 75 kVA between the United States and the Faroe Islands, with no significant transactions reported in the last quarter.
2023-10-15
Impact: Negligible impact on trade due to historically low trade volumes in this specific category between the two regions.
US Export Restrictions and Faroe Islands' Market Dynamics
The United States has not reported any major exports of electrical equipment under HS Code 8501.34 to the Faroe Islands, reflecting limited demand or alternative sourcing by the Faroe Islands.
2023-08-22
Impact: Minimal trade impact; Faroe Islands likely sourcing from closer European markets, reducing US involvement.
Faroe Islands' Infrastructure Projects Exclude US Suppliers for High-Capacity Generators
Faroe Islands' recent infrastructure developments have not included US suppliers for electrical motors and generators exceeding 75 kVA, with a preference for regional European partners.
2023-06-10
Impact: Continued low trade engagement between the US and Faroe Islands in this sector, with no immediate growth prospects.
Policy Updates
No Specific Tariff Changes for HS Code 8501.34 Between US and Faroe Islands
There have been no recent updates to tariffs or trade policies specifically affecting electrical motors and generators exceeding 75 kVA between the United States and the Faroe Islands, as trade in this category remains minimal.
