United States to Venezuela, Bolivarian Republic of Trade Analysis
for Suitable for use solely or principally with spark-ignition internal combustion piston engines (including rotary engines)
Detailed tariff information for Suitable for use solely or principally with spark-ignition internal combustion piston engines (including rotary engines) imports
Suitable for use solely or principally with spark-ignition internal combustion piston engines (including rotary engines) Tariff Rate
Decreasing due to political tensions and economic sanctions
Special Rates
Preferential Rate
0%
Applicable under specific trade agreements or for essential goods as defined by Venezuelan law; requires documentation proving origin under ALADI agreements.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
U.S. Eases Sanctions on Venezuela, Potentially Boosting Engine Parts Trade
The U.S. Treasury Department announced a temporary suspension of certain sanctions on Venezuela, allowing limited trade in specific sectors, including potential exports of spark-ignition engine parts under HS Code 8407. This move aims to encourage political dialogue in Venezuela.
2023-10-18
Impact: This could increase exports of spark-ignition internal combustion engine parts from the U.S. to Venezuela, though trade volumes remain uncertain due to ongoing political instability and limited Venezuelan purchasing power.
Venezuela Seeks U.S. Engine Components Amid Oil Sector Revival Efforts
Venezuelan state-owned oil company PDVSA is reportedly seeking U.S.-made spark-ignition engine components (HS Code 8407) to support maintenance of oil extraction equipment, following partial sanction relief in late 2022.
2023-09-05
Impact: Demand for U.S. engine parts may rise if further sanctions are lifted, though logistical challenges and payment issues could hinder trade growth.
U.S.-Venezuela Trade Talks Hint at Engine Parts Market Opening
Recent diplomatic engagements between U.S. and Venezuelan officials have raised the possibility of expanded trade in industrial goods, including spark-ignition engine parts (HS Code 8407), as part of broader economic negotiations.
2023-06-20
Impact: If successful, these talks could lead to a gradual reopening of trade channels for engine components, benefiting U.S. exporters targeting Venezuela's industrial sector.
Policy Updates
U.S. Treasury Issues General License for Limited Venezuelan Trade
The U.S. Department of Treasury issued a six-month general license allowing transactions with Venezuela in specific sectors, potentially including goods under HS Code 8407 (spark-ignition engines), contingent on political progress in Venezuela. Restrictions on direct dealings with PDVSA remain in place unless explicitly authorized.
Date: 2023-10-18
Extension of U.S. Sanctions Waiver for Venezuela
The Biden administration extended a limited sanctions waiver for Venezuela, maintaining restrictions on most trade but allowing certain humanitarian and industrial transactions. Goods under HS Code 8407 may be considered on a case-by-case basis under existing licenses.
