United States to Somalia Trade Analysis
for Fixed ratio speed changers, multiple and variable ratio speed changers each ratio of which is selected by manual manipulation
Detailed tariff information for Fixed ratio speed changers, multiple and variable ratio speed changers each ratio of which is selected by manual manipulation imports
Fixed ratio speed changers, multiple and variable ratio speed changers each ratio of which is selected by manual manipulation Tariff Rate
Stable with slight increase of 2% from previous year
Special Rates
Preferential Rate
0%
Applicable under the African Growth and Opportunity Act (AGOA) for qualifying goods from the United States, subject to certification and compliance with rules of origin.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
Limited Trade Activity for Speed Changers Between US and Somalia
Recent trade data indicates minimal activity in the export or import of fixed ratio and variable ratio speed changers (HS Code: 8483.40.5010) between the United States and Somalia, with no significant transactions reported in the last quarter.
2023-10-15
Impact: The lack of trade in this category suggests limited industrial demand or capacity in Somalia for such machinery, potentially affecting US exporters seeking new markets in the region.
US Export Restrictions and Somalia's Infrastructure Challenges
Challenges in Somalia's infrastructure and ongoing security concerns have been cited as barriers to trade in industrial equipment, including speed changers, with the United States.
2023-09-01
Impact: These barriers continue to restrict potential growth in trade for speed changers, limiting opportunities for US manufacturers to engage with Somali markets.
Somalia’s Emerging Market Potential for Industrial Goods
A report by a US trade analysis group highlighted Somalia as a potential emerging market for industrial goods, though current trade in specific categories like speed changers remains negligible due to economic and logistical constraints.
2023-07-20
Impact: While long-term potential exists, immediate trade impacts are minimal, with US exporters likely needing significant local partnerships and stability to enter this market.
Policy Updates
US Trade Sanctions and Export Controls on Somalia
The US maintains certain export controls and sanctions related to Somalia under the Department of Commerce’s Bureau of Industry and Security (BIS) guidelines. While speed changers are not specifically targeted, general restrictions on industrial goods may apply due to security concerns.
Date: 2023-06-10
Somalia’s Updated Import Tariff Structure
Somalia’s government has revised its import tariff structure, imposing higher duties on industrial machinery to encourage local production. This includes items under HS Code 8483.40, potentially affecting the cost competitiveness of US exports.
