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Global Tariffs, Categorized
🇺🇸 United States
🇨🇾 Cyprus
📦 Rotary rock drill bits, core bits and reamers
🇺🇸 → 🇨🇾

United States to Cyprus Trade Analysis for Rotary rock drill bits, core bits and reamers

Detailed tariff information for Rotary rock drill bits, core bits and reamers imports

Rotary rock drill bits, core bits and reamers Tariff Rate

HS Code:

2.7%
Effective 2023-01-01
View general trade relationship between United States and Cyprus

Trade Volume

Value
Approximately €1.2 million
Year
2022
Trend
Stable with slight growth of 3% compared to 2021

Special Rates

Preferential Rate
0%
Applicable under the EU-US Trade and Tariff Agreement if the goods meet rules of origin requirements.

Additional Information

No additional information available.
Last updated: 1 year ago

News and Updates

Recent News
U.S. Increases Exports of Rotary Rock Drill Bits to Cyprus
Recent trade data indicates a 20% surge in U.S. exports of rotary rock drill bits, core bits, and reamers (HS Code: 8207.19) to Cyprus, driven by increased demand in Cypriot mining and construction sectors.
2023-10-15
Impact: This growth strengthens U.S.-Cyprus trade ties and may lead to further investment in industrial equipment sectors.
Cyprus Implements New Quality Standards for Imported Drill Bits
Cyprus has introduced stricter quality control measures for imported rotary rock drill bits and reamers, affecting U.S. exporters who must now comply with updated safety and performance standards.
2023-09-05
Impact: U.S. exporters may face higher compliance costs and potential delays in shipments until certification is achieved.
Trade Agreement Boosts U.S.-Cyprus Industrial Tool Trade
A bilateral trade agreement between the U.S. and Cyprus has reduced tariffs on industrial tools, including rotary rock drill bits and core bits, facilitating smoother trade flows.
2023-08-20
Impact: Lower tariffs are expected to increase U.S. exports to Cyprus, benefiting American manufacturers of these tools.
Policy Updates
Cyprus Updates Import Tariffs on Industrial Tools
Cyprus has revised its import tariff structure for industrial tools under HS Code 8207.19, reducing duties by 5% as part of a broader trade facilitation initiative with the U.S. and other partners.
Date: 2023-09-10
U.S. Department of Commerce Issues Export Guidance for Drill Bits
The U.S. Department of Commerce released new export guidelines for rotary rock drill bits and related tools, emphasizing compliance with international quality standards for markets like Cyprus.
Date: 2023-08-01