US to impose on Nicaraguan goods over claims of human rights violations
The USTR stated that “Nicaragua's acts, policies, and practices are unreasonable and burden or restrict U.S. commerce,” following a review of over 2,000 public comments and consultations with experts. The tariffs will be phased in over two years, beginning at 0% and rising to 15% by 2028, and will apply to all Nicaraguan goods not covered under the Dominican Republic-Central America-United States Free Trade Agreement.
These new tariffs will be added on top of an existing 18% reciprocal tariff. The USTR noted that the timeline and rates could be adjusted “should Nicaragua show a lack of progress in addressing these issues.” Nicaragua has not issued a public response to the announcement.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.