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Honduras

US Revised Tariffs (%)

10

Ease of doing business

theboardiQ Tariffs Dashboard:

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Understand the complexities of international tariffs and ease of doing business across nations to cultivate balanced trade relationships, streamline operations, and deliver cost savings to end consumers.

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Share of US Imports % (1 implies <1%)
US Tariff %
Revised Tariff %
Country Tariff Rate %
1
10
10
2.1
Exports (in USD Bill.) 2024
Imports (in USD Bill.) 2024
Balance (in USD Bill.) 2024
7.06
5.53
1.52

US Revised Tariffs

Country Tariffs

Balance of Trade

Commercial Guide

Learn about the market conditions, opportunities, regulations, and business conditions in countries, prepared by U.S. Embassies worldwide, Commerce Department, State Department and other U.S. agencies’ professionals

Tariff Rate for US

World Bank staff estimates using the World Integrated Trade Solution system, based on tariff data from the United Nations Conference on Trade and Development's Trade Analysis and Information System ( TRAINS ) database and global imports data from the United Nations Statistics Division's Comtrade database.

US Imports Guide 

United States Imports from Countries during 2024, according to the United Nations COMTRADE database on international trade. United States Imports from Countries- data, historical chart and statistics - was last updated on April of 2025.

Implications

As of Sunday, April 20, 2025, here's the latest update on tariffs related to Honduras and the United States: United States Tariffs on Goods from Honduras: Baseline Tariff: Honduras is subject to the 10% baseline tariff that the United States has implemented on imports from most countries, effective April 5, 2025. "Reciprocal Tariffs": While the U.S. announced "discounted reciprocal tariffs" in early April, a 90-day pause was put in place on April 9, 2025, for most countries, including Honduras. Effective Tariff Rate: Despite the pause, the trade-weighted average effective tariff rate for imports from Honduras is estimated to be around 13.0%. This is because certain products like steel, aluminum, and auto parts (though with limited exemptions for Honduras) remain subject to higher tariffs implemented earlier. CAFTA-DR: It's important to remember that the United States and Honduras are both signatories of the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR), which generally eliminates tariffs on most goods traded between the countries. The recent tariffs are an additional layer on top of this existing agreement.   Honduras's Tariffs on Goods from the United States: As of the latest information, Honduras generally applies its Most Favored Nation (MFN) tariff rates to goods imported from the United States. In 2021, the trade-weighted average applied tariff rate for all products in Honduras was 2.85%. The simple average tariff across all products was 3.36%, with a maximum tariff rate on some products reaching 164%.   The recent announcement of "reciprocal tariffs" by the U.S. was intended to be in proportion to the tariffs that partner countries charge the U.S. According to reports prior to the 90-day pause, the tariff charged by Honduras to the U.S. was stated as 10%, which aligns with the U.S.'s baseline tariff. Key Points: CAFTA-DR Influence: The CAFTA-DR agreement significantly shapes the trade relationship between the U.S. and Honduras by eliminating most tariffs.   New U.S. Tariffs: The recently imposed U.S. tariffs (baseline and initially announced reciprocal) add a layer of complexity to this existing free trade framework. However, the 90-day pause has temporarily eased the impact of the "reciprocal tariffs." Honduran Tariffs Relatively Low: Honduras generally maintains relatively low average tariff rates on imports. Trade Relationship: The U.S. is a major trading partner for Honduras. In 2024, total goods trade between the two countries was an estimated $12.6 billion, with the U.S. having a trade surplus. Honduras's top exports to the U.S. include insulated wire, knit t-shirts, and knit sweaters, while top U.S. exports to Honduras include refined petroleum and non-retail pure cotton yarn.   It's important to monitor any further announcements or changes to the U.S.'s tariff policy after the 90-day pause concludes, as this could impact the tariff rates applied to goods from Honduras.

US Negotiation Strategy

Based on the 2024 data, the top imports to the US from Honduras by value are: Articles of apparel, knit or crocheted ($2.03 Billion) US States with Similar Manufacturing: California, North Carolina, South Carolina, Georgia, Alabama. US Companies Examples: Hanesbrands (North Carolina), Fruit of the Loom (Kentucky, but with operations in the US), Gildan Activewear (operates in the US). Electrical, electronic equipment ($1.14 Billion) US States with Similar Manufacturing: California, Texas, Massachusetts, Arizona, Oregon. US Companies Examples: Apple (California), Texas Instruments (Texas), Intel (Arizona), General Electric (various states).   Articles of apparel, not knit or crocheted ($452.64 Million) US States with Similar Manufacturing: California, New York, Pennsylvania. US Companies Examples: American Giant (North Carolina), Brooks Brothers (New York), many smaller design and manufacturing houses. Coffee, tea, mate and spices ($435.56 Million) US States with Similar Processing/Packaging: California, Washington, Texas, Florida. While not the same as growing, these states have significant processing and packaging industries. US Companies Examples: Starbucks (Washington), Folgers (Louisiana), McCormick & Company (Maryland). Edible fruits, nuts, peel of citrus fruit, melons ($431.65 Million) US States with Similar Agriculture: California, Florida, Washington, Georgia, Texas. US Companies/Cooperatives Examples: Sunkist Growers (California), Florida's Natural Growers (Florida), Washington Apple Commission (Washington). It's important to note the following: Scale of Production: While the US can manufacture similar goods, the scale of production and the specific types within these categories might differ significantly from Honduran exports. For example, Honduras is a major exporter of basic apparel, while US apparel manufacturing often focuses on higher-end or specialized items. Labor Costs: Labor costs are a significant factor in apparel and some agricultural production, which often makes imports from countries like Honduras more competitive.   Raw Materials: Some of these manufactured goods rely on raw materials that the US also imports. Focus on Different Segments: US manufacturing in some sectors might focus on different segments or have higher levels of automation. For instance, in electronics, the US excels in high-tech components and final assembly, while some simpler electronic assembly might be done elsewhere. Therefore, while the US has the capacity to manufacture goods within these categories, the direct substitutability and competitiveness with Honduran imports vary depending on the specific product and market dynamics.

Investing in USA

theboardiQ Economic Relevance Score, ranks States of USA based on 11 parameters

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Sources : Forbes | USDA Economic Research | TCGen Total Innovation Rank Index | Best States for Manufacturing | World Population Review | Tax Foundation | US News | BEA Data | Wikipedia | International Trade Administration

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theboardiQ's Economic Relevance Score provides a comprehensive, data-driven assessment of a nation's economic vitality and global significance. This score is meticulously calculated using 11 key parameters, each reflecting a critical facet of economic performance. It analyzes the representation of Fortune 500 companies within a nation, a strong indicator of its business environment and market size. The balance of trade surplus or deficit reveals the nation's international competitiveness and export strength. It incorporates Gross Domestic Product (GDP), a fundamental measure of overall economic output, and examine the health of key sectors like agriculture and manufacturing. The score also accounts for innovation, gauging a nation's ability to drive future growth through technological advancements. Crucial labor market indicators such as employment rates are considered, alongside fiscal policies reflected in tax rates. To capture the lived experience of citizens, it assesses cost of living and disposable income, providing insight into purchasing power and economic well-being. Finally, education levels are integrated, recognizing their pivotal role in fostering a skilled workforce and driving long-term economic development. By synthesizing these 11 parameters, theboardiQ's Economic Relevance Score delivers a nuanced and holistic view of a nation's economic standing, enabling informed strategic decisions. The Top 5 States in the assessment are Texas, North Carolina, Virginia, Florida and Washington. Texas does consistently well across most of the 11 variables especially in the areas of GDP, F500 representation in the State, Balance of Trade where it ranks 2nd nationally. North Carolina scores as the highest-ranking state nationally in manufacturing and performs consistently across the other variables. Virginia does well in disposable income where it ranks 3rd nationally. It also scores high in the variables of manufacturing and employment Florida holds the 4th ranking nationally for GDP and Tax Washington State scores the top spot for disposable income nationally, 2nd for education and 3rd for innovation. Colorado, with an overall rank of 7 scores the top spot for Education (schools and higher education). Nebraska, that ranked 10th overall, did well in Agriculture where it is ranked 3rd nationally as well as Trade Balance where it ranked 5th. Illinois, though ranked 20th overall did well nationally in F500 representation, GDP, Agriculture, and Disposable Income. Pennsylvania comes in at 21 overall doing well nationally in GDP (6th); Manufacturing (8th) and F500 representation (8th) New York scores 23rd overall with a 2 ranking in Disposable Income nationally, as well as 3rd in both F500 representation and GDP. California comes in at 29th overall and has the top spot ranking in a whopping 4 variables nationally – GDP, Innovation, Agriculture and F500 representation. However, performance in the areas of Trade Balance, Cost of Living, Tax, Manufacturing and Employment resulted in the overall ranking dipping. Wyoming at 30th overall scores the top spot nationally in the area of Tax Massachusetts at 31 overall does well in innovation where it is ranked 2nd nationally Arkansas at 36 and Alabama at 39, do well in overall Cost of Living where they are ranked 2nd and 3rd nationally, respectively. Louisiana ranked 44th overall is ranked 1st in Trade Balance nationally.

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