A recent report highlights an increase in exports of electrical equipment, including items with a power handling capacity not exceeding 1 kVA (HS Code: 8504.21), from the US to Panama under the US-Panama Trade Promotion Agreement.
2023-10-15
Impact: This trend is expected to strengthen bilateral trade ties, with reduced tariffs facilitating a smoother flow of low-capacity electrical transformers and related goods.
Panama Increases Demand for US-Made Low-Capacity Transformers
Panama's growing infrastructure projects have led to a surge in demand for US-manufactured electrical equipment under HS Code 8504.21, with power handling capacity not exceeding 1 kVA.
2023-09-20
Impact: US exporters are likely to see a sustained increase in orders, though supply chain constraints may pose challenges in meeting demand.
New Shipping Route Enhances US-Panama Electrical Trade
A new direct shipping route between the US and Panama has reduced transit times for electrical goods, including those under HS Code 8504.21 with power handling capacity not exceeding 1 kVA.
2023-08-05
Impact: Lower shipping costs and faster delivery are expected to increase trade volume for these products, benefiting both US exporters and Panamanian importers.
Under the US-Panama Trade Promotion Agreement, tariffs on electrical equipment with power handling capacity not exceeding 1 kVA (HS Code: 8504.21) have been further reduced, effective from July 2023, to encourage trade in this sector.
