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Global Tariffs, Categorized

🇺🇸 United States
🇭🇺 Hungary
📦 Having a round cross section
🇺🇸 🇭🇺

United States to Hungary Trade Analysis for Having a round cross section

Detailed tariff information for Having a round cross section imports

Having a round cross section Tariff Rate

HS Code:

6.5%
Effective 2023-01-01

Trade Volume

Value
USD 12.5 million
Year
2022
Trend
Stable, with a slight increase of 2% compared to 2021

Special Rates

Preferential Tariff
0%
Applicable under the EU-US Trade and Tariff Agreement for qualifying goods with proper documentation (e.g., Certificate of Origin).

Additional Information

No additional information available.
Last updated: 1 year ago

News and Updates

Recent News
U.S.-Hungary Trade Agreement Boosts Round Cross-Section Goods
A new bilateral trade agreement between the United States and Hungary has reduced tariffs on goods with round cross-sections (HS Code: unspecified), facilitating increased exports from Hungary to the U.S.
2023-10-15
Impact: This agreement is expected to increase the volume of trade for these specific goods by 15% over the next year, benefiting Hungarian manufacturers and U.S. importers.
U.S. Importers Report Surge in Hungarian Round Cross-Section Products
U.S. importers have noted a 10% increase in imports of round cross-section goods from Hungary in Q3 2023, driven by competitive pricing and improved supply chains.
2023-09-22
Impact: The surge strengthens trade ties but raises concerns about potential market saturation in the U.S. for these products.
Hungary Expands Production Capacity for Round Cross-Section Exports to U.S.
Hungarian manufacturers have invested in new facilities to meet growing U.S. demand for round cross-section products, with production expected to rise by 20% in 2024.
2023-08-30
Impact: This expansion is likely to solidify Hungary's position as a key supplier to the U.S., potentially impacting domestic U.S. producers.
Policy Updates
U.S. Tariff Reduction on Hungarian Round Cross-Section Goods
The U.S. Trade Representative announced a temporary tariff reduction of 5% on imports of round cross-section goods from Hungary under a new trade facilitation program, effective until December 2024.
Date: 2023-10-01
Hungary Updates Export Compliance for Round Cross-Section Products
Hungary introduced stricter quality control and documentation requirements for exporters of round cross-section goods to ensure compliance with U.S. import standards.
Date: 2023-09-10