U.S. Tightens Sanctions on Iran Impacting Electrical Component Trade
The U.S. has imposed new sanctions on Iran, targeting specific industrial sectors including electrical components under HS codes like 8535.90.40 and 8536.30.40. This follows heightened geopolitical tensions.
2023-10-15
Impact: Trade of ceramic or metallic temperature-reactive components between the U.S. and Iran is expected to face severe restrictions, with potential supply chain disruptions for U.S. importers previously sourcing from Iran.
Iran Seeks Alternative Markets Amid U.S. Trade Barriers
Iran is reportedly looking to redirect exports of electrical components, including those under HS codes 8536.50.40, to Asian and European markets as U.S. sanctions continue to limit access.
2023-09-20
Impact: U.S.-Iran trade for these specific components remains negligible, with Iran likely to reduce reliance on U.S. markets, potentially increasing competition in other regions.
U.S. Department of Commerce Reviews Exemptions for Iranian Electrical Imports
The U.S. Department of Commerce is reviewing potential exemptions for specific electrical components from Iran, including temperature-reactive materials under HS codes 8535.90.40, amid calls from niche industries for limited trade allowances.
2023-08-05
Impact: If exemptions are granted, there could be a slight resumption of trade for these components, though strict oversight and limited quotas are expected.
