Increasing due to growing industrial demand in Suriname
Special Rates
Preferential Rate
0%
Applicable under CARICOM agreements if conditions of origin are met and proper documentation is provided.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
Innovative Methanol Production Vessel Launched for US-Suriname Trade
A new vessel equipped to produce methanol from natural gas on the high seas has begun operations, facilitating trade between the United States and Suriname. The vessel aims to reduce production costs and enhance supply chain efficiency for methanol (HS Code: 290511).
2023-10-15
Impact: This development is expected to increase methanol exports from the US to Suriname, potentially lowering costs and boosting trade volume due to innovative offshore production methods.
US-Suriname Methanol Trade Agreement Strengthened by Offshore Production
A bilateral agreement has been signed to support methanol production aboard vessels in foreign waters, targeting enhanced trade relations. The agreement includes provisions for streamlined customs processes for methanol shipments.
2023-09-20
Impact: The agreement is likely to reduce trade barriers, encouraging higher methanol trade volumes between the US and Suriname, with a focus on sustainable production practices.
Environmental Concerns Raised Over Offshore Methanol Production
Environmental groups have raised concerns about the ecological impact of producing methanol from natural gas on vessels in international waters, urging stricter regulations for US-Suriname trade routes.
2023-08-05
Impact: Potential regulatory changes could increase production costs or delay shipments, affecting the methanol trade dynamics between the two countries.
Policy Updates
US Updates Tariff Classification for Offshore-Produced Methanol
The US Customs and Border Protection has issued a new ruling on the classification and tariff treatment of methanol produced on vessels in foreign waters under HS Code 290511, aiming to clarify duties applicable to imports from Suriname.
Date: 2023-10-01
Suriname Introduces Incentives for Green Methanol Imports
Suriname has announced tax incentives for importing methanol produced using sustainable methods, including offshore production from natural gas, to encourage eco-friendly trade with the United States.
