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Turks and Caicos Islands

US Revised Tariffs (%)

10

Ease of doing business

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Share of US Imports % (1 implies <1%)
US Tariff %
Revised Tariff %
Country Tariff Rate %
1
10
10
0
Exports (in USD Bill.) 2024
Imports (in USD Bill.) 2024
Balance (in USD Bill.) 2024
0.71
0.01
0.7

US Revised Tariffs

Country Tariffs

Balance of Trade

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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

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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.

Trading Economics - Imports

Implications

As of Saturday, April 19, 2025, here's the latest update on tariffs concerning the Turks and Caicos Islands: Turks and Caicos Islands' Own Tariffs: The Turks and Caicos Islands primarily rely on import duties (tariffs) as a major source of government revenue. Most items imported into the Turks and Caicos Islands face a 30% duty, along with an additional 5% Customs Processing Fee (CPF), bringing the total to 35%. Food items generally have a 0% duty but are still subject to the 5% CPF. Building materials typically have a 10% duty and are also subject to the 5% CPF, totaling 15%. There are exceptions to these general rates for specific items. For example, drinking water can face a higher duty rate. The Turks and Caicos Islands utilize the Harmonized Commodity Description and Coding System (HS System) for classifying goods. You can search for specific tariff rates using their online Tariff Finder. Excise duties are levied on imported alcohol at flat rates per type (e.g., per bottle of wine or spirits). These are in addition to the 5% CPF. Impact of Recent US Tariffs: Under the recent "reciprocal tariff" actions by the United States, as of April 10, 2025, a flat 10% tariff applies to imports from most countries, including the Turks and Caicos Islands. This means that goods imported from the Turks and Caicos Islands into the United States are currently subject to a 10% tariff. This 10% rate is part of a 90-day pause on the higher, country-specific reciprocal tariffs that were initially announced. It's important to note that this is a development from the United States' side affecting imports from the Turks and Caicos Islands. The Turks and Caicos Islands' own tariff regime on imports remains as described above. Key Takeaways for Tariffs Related to Turks and Caicos Islands: The Turks and Caicos Islands themselves have a relatively straightforward tariff system with a general rate of 35% (duty + CPF) on most imports, with exceptions for food and building materials. Currently, the United States applies a 10% tariff on goods imported from the Turks and Caicos Islands as part of a temporary, broad tariff policy. Businesses trading with the Turks and Caicos Islands need to consider both the import duties imposed by the Turks and Caicos Islands and any tariffs imposed by their own country (like the current 10% in the US). It's advisable to consult the official customs websites of both the exporting and importing countries for the most accurate and up-to-date information, as tariff policies can be subject to change. For the Turks and Caicos Islands, you can refer to their Customs Department website.

US Negotiation Strategy

Based on available trade data, the top imports to the US from the Turks and Caicos Islands are: Molluscs ($1.66 Million in January 2025) Crustaceans ($1.47 Million in 2023) Semiconductor Devices ($708k in 2023) Commodities not elsewhere specified ($287k in January 2025) Instructional Models ($33.2k in January 2025)   Scrap Aluminum ($14k in January 2025) Historically, printed materials and electrical machinery parts have also been significant exports, but recent data emphasizes seafood and some manufactured goods. Now, regarding which states in the US can manufacture the same, with examples of companies: Molluscs and Crustaceans (Seafood Processing): Alaska: Numerous seafood processing companies, such as Trident Seafoods and Peter Pan Seafoods, process various molluscs (like clams and mussels) and crustaceans (like crab and shrimp).   Washington: Companies like Taylor Shellfish Farms cultivate and process various types of molluscs.   Louisiana: A major hub for shrimp and oyster processing, with companies like LA Fish Fry Products. Massachusetts: Home to companies like Legal Sea Foods that process a wide range of seafood, including molluscs and crustaceans. Maine: Known for lobster and other shellfish processing, with companies like Luke's Lobster.   Semiconductor Devices: California: Silicon Valley is the heart of the US semiconductor industry, with major companies like Intel, NVIDIA, and Advanced Micro Devices (AMD) involved in design and some manufacturing.   Arizona: Has become a significant hub for semiconductor manufacturing, with large facilities operated by Intel and Taiwan Semiconductor Manufacturing Company (TSMC).   Texas: Home to major semiconductor manufacturers like Texas Instruments and Samsung.   Oregon: Intel has a significant manufacturing presence in Oregon.   New York: GlobalFoundries operates a large semiconductor manufacturing facility in upstate New York.   Instructional Models: Wisconsin: Companies like Anatomy in Clay Learning System produce anatomical models for educational purposes. Illinois: Educational Innovations, Inc. offers a variety of science education models and kits.   California: Many smaller companies and educational suppliers in California design and manufacture instructional models for science, math, and other subjects. Printed Books, Newspapers, Pictures: Tennessee: Quad/Graphics has significant printing facilities in Tennessee. Wisconsin: LSC Communications, formerly known as R.R. Donnelley (though now a subsidiary of Atlas Holdings), has printing operations in various states, including Wisconsin. **Illinois:**рия LSC Communications is based in Illinois.   Numerous regional and specialized printing companies exist in almost every US state. Electrical Machinery and Equipment Parts: California: A broad sector with many companies producing electrical components. For example, TE Connectivity has operations in California producing various electrical connectors and components. North Carolina: Home to companies like Siemens Energy that manufacture electrical equipment.   Ohio: Known for manufacturing a variety of electrical equipment and components, including companies like General Electric (GE). It's important to note that while the US has the capability to manufacture goods similar to those imported from the Turks and Caicos Islands, the specific types, quantities, and cost-competitiveness can vary significantly. The US market often relies on imports for certain specialized products or to meet overall demand. Also, the manufacturing sector is highly complex, with intricate supply chains that can span across multiple states and countries.

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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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