A new bilateral trade agreement between the United States and Uruguay has reduced tariffs on electrical equipment, including items powered by external sources of electricity (HS Code: 8504). This has led to a 12% increase in U.S. exports to Uruguay in this category over the past quarter.
2023-10-15
Impact: Positive impact on U.S. exporters due to lower tariffs, increasing market access and competitiveness in Uruguay.
Uruguay Imposes Temporary Import Quotas on Electrical Goods
Uruguay has introduced temporary import quotas on certain electrical goods, including products under HS Code 8504, to protect domestic manufacturers. This affects U.S. exporters who now face volume restrictions.
2023-09-05
Impact: Negative impact on U.S. exporters as quotas limit the volume of electrical equipment that can be shipped to Uruguay.
U.S. and Uruguay Discuss Supply Chain Enhancements for Electrical Products
During a recent trade summit, U.S. and Uruguayan officials explored ways to streamline supply chains for electrical products powered by external sources. Both countries aim to reduce logistical costs and improve trade efficiency.
2023-08-20
Impact: Potentially positive impact if agreements lead to reduced costs and faster delivery times for U.S. exporters.
Policy Updates
Reduction in Tariffs on HS Code 8504 Products
As part of a broader trade pact, Uruguay has agreed to reduce tariffs on electrical equipment powered by external sources (HS Code 8504) from the United States by 5% effective immediately, aiming to encourage imports and bilateral trade.
Date: 2023-10-10
Uruguay's New Import Quota Policy
Uruguay has implemented a quota system on imported electrical goods under HS Code 8504 to support local industries. U.S. exporters are limited to a specific volume per quarter until further notice.
