U.S. Imposes New Sanctions on Iranian Goods Under HS Code Subdivision (c) of U.S. Note 33
The U.S. Department of Treasury announced additional sanctions on specific Iranian articles classified under subdivision (c) of U.S. note 33 to subchapter, effective for entries on or after April 3, 2025. This measure targets certain imports to curb Iran's economic influence.
October 15, 2024
Impact: This will likely restrict U.S. imports of specified Iranian goods, increasing compliance costs for businesses and potentially reducing bilateral trade volume.
U.S. Trade Representative Clarifies Tariff Scope for Iranian Imports
The Office of the U.S. Trade Representative issued a statement detailing the scope of tariffs and restrictions on Iranian articles under HS Code provisions, effective April 3, 2025, as part of ongoing efforts to address national security concerns.
November 5, 2024
Impact: Clarification may lead to stricter enforcement and monitoring of imports, affecting U.S. businesses dealing with Iranian goods and requiring updated compliance measures.
Iran Responds to Upcoming U.S. Trade Restrictions
Iranian officials criticized the upcoming U.S. trade restrictions on articles under subdivision (c) of U.S. note 33, effective April 3, 2025, calling them 'economic warfare' and vowing to seek alternative markets for affected goods.
November 20, 2024
Impact: Iran's pivot to other markets could reduce the effectiveness of U.S. sanctions, while U.S. importers may face supply chain disruptions for restricted items.
