A new bilateral trade agreement between the United States and Azerbaijan has reduced tariffs on automotive parts, including wheels (HS Code: 8708.70), facilitating increased exports from the US to Azerbaijan.
2023-10-15
Impact: This agreement is expected to increase US wheel exports to Azerbaijan by 15% over the next year, strengthening trade ties.
Azerbaijan Increases Demand for US-Made Wheels
Azerbaijan's growing automotive sector has led to a surge in demand for high-quality wheels from the United States, with imports rising by 10% in the last quarter.
2023-09-20
Impact: The rising demand may lead to higher export volumes for US manufacturers, potentially straining supply chains if production capacity isn't scaled.
Recent disruptions in shipping routes through the Caspian region have delayed deliveries of wheels and related parts from the US to Azerbaijan, affecting trade flow.
2023-08-05
Impact: Trade delays could result in temporary shortages in Azerbaijan, potentially increasing costs for US exporters due to logistical bottlenecks.
Policy Updates
US-Azerbaijan Tariff Reduction on Automotive Parts
The US and Azerbaijan finalized a tariff reduction on automotive parts, including wheels (HS Code: 8708.70), dropping the rate from 5% to 2% to encourage bilateral trade.
Date: 2023-10-10
Azerbaijan Updates Import Regulations for Wheels
Azerbaijan introduced stricter quality standards for imported wheels to ensure safety compliance, requiring additional certification for US exporters.
