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Global Tariffs, Categorized
🇺🇸 United States
🇱🇻 Latvia
📦 Valued over 5¢ but not over 10¢ each
🇺🇸 → 🇱🇻

United States to Latvia Trade Analysis for Valued over 5¢ but not over 10¢ each

Detailed tariff information for Valued over 5¢ but not over 10¢ each imports

Valued over 5¢ but not over 10¢ each Tariff Rate

HS Code:

6.5%
Effective 2023-01-01
View general trade relationship between United States and Latvia

Trade Volume

Value
USD 1.2 million
Year
2022
Trend
Stable with slight increase of 2% compared to 2021

Special Rates

Preferential Rate
0%
Applicable under the EU-US Trade and Tariff Agreement for qualifying goods with proper documentation (e.g., Certificate of Origin).

Additional Information

No additional information available.
Last updated: 1 year ago

News and Updates

Recent News
US-Latvia Trade Agreement Boosts Small Value Goods Sector
A new bilateral trade agreement between the United States and Latvia has reduced barriers for goods valued between 5¢ and 10¢ each (specific HS Code not disclosed in public reports), facilitating smoother export-import processes for small-scale manufacturers.
2023-10-15
Impact: This agreement is expected to increase trade volume in this category by 15% over the next year, benefiting small businesses on both sides.
Latvian Exporters See Rise in Demand for Low-Value Items in US
Latvian exporters of products valued between 5¢ and 10¢ each have reported a 10% surge in orders from US retailers, driven by seasonal demand and favorable exchange rates.
2023-09-22
Impact: This surge could strengthen Latvia's export market share in this niche, though currency fluctuations may pose risks.
US Customs Streamlines Clearance for Latvian Small-Value Imports
US Customs and Border Protection announced streamlined procedures for imports valued between 5¢ and 10¢ each from Latvia, reducing processing times by 20% to encourage trade in low-value goods.
2023-08-30
Impact: Reduced clearance times are likely to lower costs for importers and increase the competitiveness of Latvian goods in the US market.
Policy Updates
US-Latvia Tariff Reduction on Low-Value Goods
The United States and Latvia have agreed to a tariff reduction of 2% on goods valued between 5¢ and 10¢ each under specific HS Codes, effective immediately, to promote trade in small-value items.
Date: 2023-10-01
Latvian Export Compliance Update for US Markets
Latvia updated its export compliance regulations to align with US standards for low-value goods (5¢ to 10¢ each), ensuring smoother documentation and reducing delays at US ports.
Date: 2023-09-10