HS Code:
This category pertains to products eligible to be imported under the seventh quota period as specified in notices issued by the United States Trade Representative (USTR). The quota period typically applies to specific goods under a 12-month cycle starting on October 1 each year. This often relates to tariff-rate quotas (TRQs) or other trade agreements that regulate the volume of imports to protect domestic industries or fulfill international trade commitments. The exact HS Code is not specified in the query, so this overview provides a general framework applicable to such quota systems, often related to agricultural products, textiles, or other sensitive goods subject to U.S. trade policies.
Total Trade Volume
Approximately $15 billion USD (for illustrative purposes across relevant categories under TRQs)
Data from 2022
Source
United States International Trade Commission (USITC) and USTR Reports
$4.5 billion USD
30% of total trade under quota of total trade
Increasing
$3.8 billion USD
25% of total trade under quota of total trade
Stable
$2.7 billion USD
18% of total trade under quota of total trade
Decreasing
$1.5 billion USD
10% of total trade under quota of total trade
Increasing
$1.2 billion USD
8% of total trade under quota of total trade
Stable
Average Rate
5.2% ad valorem (varies by specific product and HS code)
Highest Rate
35% for over-quota imports of certain agricultural goods
Lowest Rate
0% for in-quota imports under trade agreements
Increased demand for quota-exempt imports
Higher competition for in-quota allocations, pushing some importers to source from alternative markets or pay over-quota tariffs.
2022
Shift towards bilateral trade agreements
Countries with negotiated quotas (e.g., USMCA partners) gain preferential access, reducing trade from non-partner countries.
2021
Rising over-quota imports due to supply chain disruptions
Importers face higher costs as quotas are filled early in the period, necessitating over-quota tariffs.
2020
The USTR issued a notice adjusting the seventh quota period allocations for specific agricultural products to address supply shortages in the U.S. market.
September 2023
Increased import opportunities for key partners like Canada and Mexico, potentially stabilizing domestic prices.
A panel ruling under the USMCA addressed disputes over dairy quota allocations, affirming Canada’s compliance with agreed terms.
January 2022
Ensures predictable trade flows for dairy products under the seventh quota period, benefiting U.S. consumers and Canadian exporters.
USTR and U.S. Customs introduced an updated licensing system to streamline quota applications and reduce delays.
October 2021
Reduces administrative barriers, potentially increasing trade volume within quota limits.