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Electromechanical knives, each with self-contained electric motor, valued $8 or more but not more than $40 each (provided for in subheading 8509.80.50)
United States to Nicaragua Trade Analysis
for Electromechanical knives, each with self-contained electric motor, valued $8 or more but not more than $40 each (provided for in subheading 8509.80.50)
Detailed tariff information for Electromechanical knives, each with self-contained electric motor, valued $8 or more but not more than $40 each (provided for in subheading 8509.80.50) imports
Electromechanical knives, each with self-contained electric motor, valued $8 or more but not more than $40 each (provided for in subheading 8509.80.50) Tariff Rate
Stable, with slight increase of 2% compared to 2021
Special Rates
Preferential Rate under CAFTA-DR
0%
Applies to goods originating from the United States under the Central America-Dominican Republic Free Trade Agreement (CAFTA-DR), subject to rules of origin certification.
A recent bilateral trade agreement between the United States and Nicaragua has reduced tariffs on electromechanical knives (HS 8509.80.50), leading to a 12% increase in US exports to Nicaragua in the last quarter.
October 15, 2023
Impact: This tariff reduction is expected to enhance market access for US manufacturers, potentially increasing export volumes of electromechanical knives valued between $8 and $40 each.
Nicaraguan Demand for US-Made Electromechanical Knives Surges
Nicaraguan retailers report a growing demand for US-made electromechanical knives, with imports under HS 8509.80.50 rising by 8% year-over-year due to their reliability and competitive pricing.
September 5, 2023
Impact: Increased demand may encourage US exporters to prioritize Nicaragua as a key market, potentially leading to stronger trade ties and higher shipment volumes.
Supply chain disruptions at key Nicaraguan ports have delayed shipments of electromechanical knives from the US, affecting delivery schedules for products under HS 8509.80.50.
August 20, 2023
Impact: These delays could temporarily reduce trade volumes and increase costs for US exporters, potentially impacting profitability in the short term.
Policy Updates
US-Nicaragua CAFTA-DR Tariff Adjustment for HS 8509.80.50
Under the Central America-Dominican Republic Free Trade Agreement (CAFTA-DR), tariffs on electromechanical knives valued between $8 and $40 each have been reduced by 3% for US exports to Nicaragua, effective immediately.
