A recent bilateral trade agreement between the United States and Guyana has facilitated an increase in the export of steel billets of uniform circular cross-section (HS Code: 7207.11) from the US to Guyana, aiming to support infrastructure development in Guyana.
2023-10-15
Impact: This agreement is expected to enhance trade volume in steel billets, providing US exporters with a growing market in Guyana and supporting local construction projects.
Guyana Increases Import Demand for US Steel Billets
Guyana's booming construction sector has led to a surge in demand for steel billets from the United States, with a reported 20% increase in imports of products under HS Code 7207.11 over the past quarter.
2023-09-20
Impact: The rising demand is likely to strengthen trade ties, benefiting US steel producers while meeting Guyana's infrastructure needs.
US Exporters Face Logistics Challenges in Guyana Steel Trade
US exporters of steel billets (HS Code: 7207.11) to Guyana have encountered logistical bottlenecks at Guyanese ports, causing delays in delivery and increased shipping costs.
2023-08-05
Impact: These challenges may temporarily hinder trade efficiency, potentially increasing costs for both US exporters and Guyanese importers.
Policy Updates
US-Guyana Tariff Reduction on Steel Products
The United States and Guyana have agreed to reduce tariffs on steel billets (HS Code: 7207.11) by 5% as part of a broader trade facilitation initiative to support mutual economic growth.
Date: 2023-10-01
Guyana Implements New Import Standards for Steel Billets
Guyana has introduced stricter quality control standards for imported steel billets (HS Code: 7207.11), requiring additional certification from US exporters to ensure compliance with safety and durability norms.
