A recent bilateral trade agreement between the United States and Ecuador has reduced tariffs on mechanical pencils (HS Code: 9608.40), leading to a 15% increase in exports from the US to Ecuador in the last quarter.
2023-10-15
Impact: Positive impact on US exporters due to lower tariffs, increasing market access and demand in Ecuador.
Ecuador Imposes Temporary Import Quota on Mechanical Writing Instruments
Ecuador has introduced a temporary import quota on mechanical pencils and similar products to protect domestic manufacturers, affecting US shipments under HS Code 9608.40.
2023-09-01
Impact: Negative impact on US exporters as the quota limits the volume of mechanical pencils that can be imported into Ecuador.
US and Ecuador Discuss Supply Chain Improvements for Office Supplies
Trade representatives from the US and Ecuador held talks to streamline logistics for office supplies, including mechanical pencils (HS Code: 9608.40), aiming to reduce shipping delays and costs.
2023-08-10
Impact: Potential positive impact on trade efficiency, benefiting both US exporters and Ecuadorian importers with faster delivery times.
Policy Updates
Ecuador Revises Tariff Structure for HS Code 9608.40
Ecuador has updated its tariff structure, reducing the import duty on mechanical pencils with extending or retracting mechanisms from 10% to 5% as part of a broader trade liberalization effort with the US.
Date: 2023-10-01
US Extends GSP Benefits to Ecuador for Office Supplies
The United States has renewed the Generalized System of Preferences (GSP) for Ecuador, allowing duty-free imports of certain office supplies, including mechanical pencils under HS Code 9608.40, to support trade relations.
