Despite Haiti’s challenging socio-economic, as well as political climate, Haiti remains one of the most open economies of the Caribbean seeking foreign direct investment (FDI). Haiti’s legislation encourages such FDI with the assurance that the same rights, privileges, and equal protection are provided to local and foreign companies. The current president of Haiti established and announced “Seven Priority Axes” for the development of Haiti. One of which is in the electricity (e.g., Hydro, Solar, Natural Gas and, of course, Petroleum) sector.
On June 24, 2019, the Office of the United States Trade Representative (USTR) provided the public with an exclusion process for items included subjected to Section 301 Tariffs. Specifically, the exclusions related to products included on List 3, which went into effect on September 24, 2018.
Originally, List 3 imposed 10 percent ad valorem duties on 5,757 full and partial subheadings of the Harmonized Tariff Schedule of the United States (HTSUS) and had an annual trade value of $200 Billion. Months later, in May 2019, the 10 percent ad valorem duties were increased to 25 percent. Continue Reading