US Trade Deal with Suriname 8-8-25

In May 2025, Suriname's exports to the United States were $6.85 million, while imports were $39.7 million, resulting in a trade deficit for Suriname of $32.8 million. Suriname's top exports to the US include non-iron and steel slag, non-fillet fresh fish, and fish fillets. The main imports from the US to Suriname are other iron products, unspecified commodities, and stranded iron wire. 

Key Points: 

Trade Imbalance: Suriname has a trade deficit with the US, meaning it imports more from the US than it exports. 

Top Exports: Non-iron and steel slag, non-fillet fresh fish, and fish fillets are Suriname's main exports to the US. 

Top Imports: Other iron products, unspecified commodities, and stranded iron wire are Suriname's main imports from the US. 

US Exports to Suriname: The US exports a variety of goods to Suriname, including chemicals, excavating machinery, machine parts, and food, according to the U.S. Department of State (.gov). 

Suriname Exports to US: Gold, precious metal scraps, refined petroleum, rough wood, and bananas are Suriname's main exports. 

Suriname's nominal GDP for 2025 is estimated to be $4.51 billion. In 2025, Suriname's nominal per capita GDP is projected to be $6,860. Suriname Population is 639,850. The unemployment rate in Suriname for 2025 is projected to be 9.5%

In May 2025, the United States had a trade surplus with Suriname, with exports of $39.7 million and imports of $6.85 million, resulting in a surplus of $32.8

https://www.google.com/search?q=us+trade+surplus+with+suriname+2025

US tariffs on imports from Suriname in 2025

As of August 4, 2025, the tariff situation between the US and Suriname is currently in flux, with potential for significant changes depending on the outcome of ongoing trade negotiations and the renewal of the African Growth and Opportunity Act (AGOA). Here's a summary of the situation:

1. General reciprocal tariffs

·       The U.S. has generally maintained a baseline 10% reciprocal tariff rate for most countries, including Suriname, according to information from April 15, 2025.

·       However, this baseline tariff rate was extended until August 1, 2025 to allow for continued negotiations, according to a report from July 8, 2025.

·       If new trade agreements were not reached by August 1, 2025, countries like Suriname could face significantly higher tariffs, potentially as high as 60-70% in some cases, based on bilateral trade deficits.

·       Suriname was not among the countries that received new, revised tariff rates that differed from earlier announcements, implying its rate might revert to previously published levels if no deal is made. 

2. AGOA and Suriname's eligibility

·       The African Growth and Opportunity Act (AGOA) provides duty-free access to the US market for eligible Sub-Saharan African countries.

·       Suriname is not a Sub-Saharan African country and therefore is not eligible for AGOA benefits.

·       However, the possibility of AGOA renewal and its implications for broader US trade policy, including the application of reciprocal tariffs, was a subject of ongoing debate, according to reports from April to July 2025.

·       The terms of trade with the United States changed significantly after President Trump introduced reciprocal tariffs, potentially overriding previous agreements like AGOA. 

3. Current uncertainty

·       The overall situation is characterized by uncertainty, with potential changes to tariff rates depending on the outcome of negotiations and the status of AGOA renewal.

·       Businesses engaged in trade between the US and Suriname should continue to monitor developments closely and seek updated information from official sources like the U.S. Trade Representative (USTR) and U.S. Customs and Border Protection (CBP) to understand the specific tariffs that may apply to their goods. 

In conclusion

While a baseline 10% reciprocal tariff may have applied to Suriname as of April 2025, the situation remains subject to change pending the outcome of trade negotiations and AGOA renewal. Businesses should stay informed about the latest developments and consult official sources for specific guidance. 

In 2024, the United States had a trade deficit with Suriname, meaning the value of imports from Suriname exceeded the value of exports to Suriname. The U.S. imported $394.47 million worth of goods from Suriname and exported $383.54 million worth of goods to Suriname, resulting in a deficit of $10.93 million.

Comments

Reducing imports of steel and fish should help to reduce the US Trade Deficit.

Norb Leahy, Dunwoody GA Tea Party Leader