🇻🇪 Venezuela vs 🇨🇱 Chile Tariffs — Import Duty Comparison (2026)

Venezuela and Chile are both significant US trading partners, but their tariff profiles differ in important ways that affect import costs.

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

Both countries export Gold, Iron ore to the United States, creating direct competition in these sectors.

In terms of trade volume, Venezuela accounts for approximately $4B in bilateral trade with the US, compared to Chile's $30B.

Both countries are subject to the Section 301 forced-labor tariff that replaced the flat 10% Section 122 rate on July 24, 2026 — a two-tier 10%/12.5% duty on roughly 60 economies (about 99.4% of US imports by value), broader than the earlier 46-country proposal. Section 122 had itself replaced the IEEPA tariffs struck down by the Supreme Court. In August 2026, 25 states sued to block the forced-labor tariff, but CBP continues collecting it while the case proceeds.

Venezuela's advantages include: Unique export categories: Crude oil, Petroleum products, Aluminum. Chile's advantages include: Trade agreement: US-Chile FTA (duty-free on qualifying goods); Higher US trade volume ($30B vs $4B); Unique export categories: Copper, Lithium, Salmon.

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