U.S. Implements Phased Tariffs on Nicaraguan Imports

The United States plans to introduce a phased-in tariff on certain Nicaraguan goods starting January 1. The tariffs will progressively increase from 10% the next year to 15% by 2028, affecting all imports not covered by the DR-CAFTA agreement, as per the U.S. Trade Representative.

The United States is set to impose a phased-in tariff on specific Nicaraguan goods beginning January 1, according to an announcement by the U.S. Trade Representative on Wednesday.

The newly established tariff is intended to rise incrementally, starting at 10% in the subsequent year and reaching 15% by the year 2028.

This measure will impact all imported Nicaraguan goods that do not originate under the established Dominican Republic-Central America-United States Free Trade Agreement, as stated by the USTR.

(With inputs from agencies.)