United States removes tariffs on more than 1,000 products: Dominican exports among the main beneficiaries

The United States government eliminated tariffs on more than 1,000 imported products, a measure that directly impacts the Dominican Republic, whose exports to that market total some 581 million dollars in the included items. The decision was made through an executive order signed last Friday, November 14th. Among the favored Dominican goods are cocoa, gold, medicines, semiconductors, avocados, bananas, coffee, tomatoes, mangoes, guavas, plantains, coconuts and papayas, among others. For local exporters, the reduction to zero of the payment of tariffs represents a substantial saving and greater competitiveness compared to other markets. The Ministry of Industry, Commerce and SMEs (MICM) highlighted that the measure strengthens the presence of Dominican products in the United States and opens new opportunities to expand exports. According to the institution, the resources saved on tariffs will allow producers to improve their margins, invest in expanding operations, and diversify their offerings.

One of the areas with the greatest growth potential is the banana, whose sales to the United States have traditionally been low. Until September, the North American country had acquired only 7 million dollars in bananas and plantains out of the 150 million exported by the Dominican Republic, a market that historically concentrates in Europe.

An impetus is also expected for Dominican beef, whose export to the United States was enabled in 2022 after more than two decades of veto due to non-compliance with standards. The permit was ratified again in April of this year, which opens space to take advantage of the tariff exemption.

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The MICM reported that the Dominican government will continue with the conversations initiated in April with various US agencies to expand the list of products that can enter the North American market tax-free. The objective is to expand the number of benefited goods and reinforce the national strategy of export diversification. According to the institution, these actions are framed within the efforts of bilateral cooperation and in the search for greater growth opportunities for Dominican productive sectors.