U.S.-Hungary Trade Agreement Boosts Tech Exports
A new bilateral trade agreement between the U.S. and Hungary facilitates the export of automatic data processing machine components under HS Code 8471, reducing tariffs by 5% on specific tech hardware.
2023-10-15
Impact: This agreement is expected to increase U.S. exports of tech equipment to Hungary, fostering stronger economic ties and benefiting U.S. manufacturers in the tech sector.
Hungary Increases Import Demand for U.S. Data Processing Tech
Hungary's growing tech industry has led to a 12% surge in demand for U.S.-made automatic data processing machines and components, with significant imports recorded in Q3 2023.
2023-09-22
Impact: The rising demand strengthens U.S. export opportunities, potentially increasing trade volume and encouraging long-term partnerships in the tech sector.
U.S. and Hungary Discuss Supply Chain Collaboration for Tech Components
During a recent trade summit, U.S. and Hungarian officials explored ways to streamline supply chains for automatic data processing machine parts under HS Code 8471, focusing on reducing logistical barriers.
2023-08-30
Impact: Improved supply chain collaboration could lower costs and enhance trade efficiency, benefiting both countries' tech industries.
