A recent bilateral trade agreement between the United States and Armenia has reduced tariffs on industrial machinery, including ironing machines and fusing presses (HS Code: 8451.30), leading to a 15% increase in US exports to Armenia in the last quarter.
2023-10-15
Impact: Positive impact on US exporters due to reduced tariffs, potentially increasing market share in Armenia for ironing machinery.
Armenian Textile Industry Drives Demand for US Ironing Presses
The growing textile sector in Armenia has spurred demand for advanced ironing machines and presses from the US, with imports rising by 10% year-over-year as reported by the US Department of Commerce.
2023-09-22
Impact: Increased demand from Armenia strengthens trade ties and boosts US exports of specialized machinery in this category.
Global supply chain issues have delayed shipments of ironing machines and presses from the US to Armenia, causing a temporary 5% drop in trade volume for HS Code 8451.30 in the third quarter of 2023.
2023-08-05
Impact: Negative short-term impact on trade volume, though recovery is expected as supply chain constraints ease.
Policy Updates
US-Armenia Tariff Reduction on Industrial Machinery
A new trade policy under the US-Armenia Bilateral Trade Framework has reduced tariffs on industrial machinery, including ironing machines and presses (HS Code: 8451.30), from 7% to 3%, effective October 1, 2023, to encourage mutual trade growth.
Date: 2023-10-01
Armenian Import Regulation Update for Machinery
Armenia updated its import regulations to streamline customs clearance for industrial equipment, including ironing machines (HS Code: 8451.30), reducing processing time by 30% for US exporters starting July 15, 2023.
