Applicable under the CARICOM Single Market and Economy (CSME) agreement for qualifying goods from member states; United States not eligible unless specific bilateral agreements apply.
A new trade agreement between the United States and Saint Lucia has facilitated an increase in the export of steel products with a cross-sectional dimension exceeding 6 mm (HS Code: 7216) from the US to Saint Lucia, focusing on construction materials.
2023-10-15
Impact: This agreement is expected to increase US exports of steel products to Saint Lucia by 15% over the next year, strengthening bilateral trade ties in the construction sector.
Saint Lucia Imposes Temporary Import Restrictions
Saint Lucia has introduced temporary import restrictions on certain steel products (HS Code: 7216) from the US to protect local manufacturers, affecting items with a cross-sectional dimension exceeding 6 mm.
2023-09-20
Impact: US exporters may face a 10% decline in steel exports to Saint Lucia in the short term due to these restrictions, prompting negotiations for exemptions.
US-Saint Lucia Discuss Tariff Reductions for Steel Trade
During a recent bilateral meeting, US and Saint Lucian officials discussed reducing tariffs on steel products (HS Code: 7216) with cross-sectional dimensions exceeding 6 mm to enhance trade flows.
2023-08-05
Impact: If implemented, tariff reductions could lower costs for Saint Lucian importers, potentially increasing US steel exports by 8-12% in the next fiscal year.
Policy Updates
Saint Lucia Updates Import Duty on Steel Products
Saint Lucia has revised its import duty structure for steel products under HS Code 7216, introducing a temporary 5% surcharge on items with a cross-sectional dimension exceeding 6 mm to support local industries.
Date: 2023-09-25
US Extends Trade Preference Program for Saint Lucia
The United States has extended its Caribbean Basin Trade Partnership Act (CBTPA) benefits to Saint Lucia, which may include preferential access for certain steel products (HS Code: 7216) with cross-sectional dimensions exceeding 6 mm, pending specific negotiations.
