🇮🇸 Iceland vs 🇨🇱 Chile Tariffs — Import Duty Comparison (2026)

Comparing import tariffs between Iceland and Chile reveals key differences that can significantly impact landed costs for US importers.

Both countries face the same base tariff rate of 10% on most goods entering the United States.

These countries have largely distinct export profiles to the United States, serving different market segments.

In terms of trade volume, Iceland accounts for approximately $2B in bilateral trade with the US, compared to Chile's $30B.

Both countries are subject to the 10% Section 122 tariff imposed on February 24, 2026, following the Supreme Court's ruling striking down IEEPA tariffs. This rate expires approximately July 24, 2026 unless Congress extends it.

Iceland's advantages include: Unique export categories: Aluminum, Fish products, Ferrosilicon. Chile's advantages include: Trade agreement: US-Chile FTA (duty-free on qualifying goods); Higher US trade volume ($30B vs $2B); Unique export categories: Copper, Lithium, Salmon.

With equivalent base tariff rates, the choice between Iceland and Chile depends primarily on product-specific duties, shipping costs, lead times, and supply chain considerations rather than the base tariff rate.