Applies to qualifying goods from the United States under the Central America-Dominican Republic Free Trade Agreement (CAFTA-DR). Requires certificate of origin and compliance with rules of origin.
A recent bilateral trade agreement between the US and Nicaragua has facilitated increased exports of electrical equipment, including items with a power handling capacity of 40 VA or greater (HS Code: 8504.40), from the US to Nicaragua, with a reported 15% rise in shipments this quarter.
2023-10-15
Impact: This agreement is expected to strengthen US exporters' market share in Nicaragua, potentially increasing demand for high-capacity power handling equipment.
Nicaragua Imposes Temporary Import Restrictions on Electrical Goods
Nicaragua has introduced temporary import restrictions on certain electrical goods, including power handling equipment of 40 VA or greater, citing domestic industry protection. US exporters are facing delays at customs.
2023-09-22
Impact: These restrictions could reduce US exports of such equipment to Nicaragua in the short term, prompting calls for diplomatic negotiations.
US Trade Commission Reviews Tariffs on Nicaraguan Imports
The US International Trade Commission is reviewing tariffs on Nicaraguan imports, which may indirectly affect trade dynamics for electrical equipment like power handling devices of 40 VA or greater exported from the US to Nicaragua.
2023-08-30
Impact: Potential tariff adjustments could influence the cost competitiveness of US exports to Nicaragua, impacting trade volumes.
Policy Updates
US-Nicaragua Trade Facilitation Update
The US and Nicaragua have updated the terms of their trade facilitation agreement under the CAFTA-DR framework, reducing non-tariff barriers for electrical equipment, including items with power handling capacity of 40 VA or greater (HS Code: 8504.40).
Date: 2023-10-10
Nicaragua Revises Import Quotas for Electrical Goods
Nicaragua has revised import quotas for electrical goods, setting stricter limits on power handling equipment of 40 VA or greater to protect local manufacturers, affecting US exporters.
