🇻🇪 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.

Venezuela has a lower effective tariff rate (10%) compared to Chile (12.5%), a difference of 2.5%.

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: Lower overall tariff rate (10% vs 12.5%); 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.

For most product categories, Venezuela currently offers lower import costs due to its tariff advantage. However, importers should consider factors beyond tariffs including shipping costs, lead times, quality standards, and supply chain reliability.