USTR proposes 100% tariffs on Nicaragua under Section 301 of Trade Act

As a result, it proposed a range of responsive actions in a report that details evidence and findings supporting the Section 301 determination.

The actions include suspending the application of all Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) benefits to Nicaragua, including tariff concessions and cumulation of Nicaraguan content for other CAFTA-DR partners, immediately or phased in over a period of time up to 12 months.

Other actions are applying tariffs up to 100 per cent on all Nicaraguan imports, immediately or phased in over a period of up to 12 months and applying tariffs up to 100 percent on some Nicaraguan imports immediately, with tariffs for selected sectors phased in over a period of time up to 12 months.

ALCHEMPro News Desk (DS)