United States to Hungary Trade Analysis
for Ipé (Tabebuia spp. or Handroanthus spp.), also known as Tahibo or Taheebo, LaPacho or Lapacho, Brazilian walnut, and Patagonian walnut
Detailed tariff information for Ipé (Tabebuia spp. or Handroanthus spp.), also known as Tahibo or Taheebo, LaPacho or Lapacho, Brazilian walnut, and Patagonian walnut imports
Ipé (Tabebuia spp. or Handroanthus spp.), also known as Tahibo or Taheebo, LaPacho or Lapacho, Brazilian walnut, and Patagonian walnut Tariff Rate
Stable with slight increase due to demand for sustainable hardwood in EU markets
Special Rates
Preferential Rate
0%
Applicable under the EU-US Trade Agreement if the product meets origin requirements and proper documentation (e.g., Certificate of Origin) is provided.
A new bilateral trade agreement between the United States and Hungary has reduced tariffs on specialty woods, including Ipé (Tabebuia spp. and Handroanthus spp.), facilitating increased exports from the US to Hungary for use in high-end furniture and decking.
2023-10-15
Impact: This agreement is expected to increase Ipé wood exports from the US to Hungary by 15% over the next year, strengthening trade ties and benefiting US timber producers.
Hungary Imposes Stricter Import Standards for Ipé Wood
Hungary has introduced new sustainability and certification requirements for imported Ipé wood to ensure compliance with EU environmental regulations, affecting US exporters.
2023-09-01
Impact: US exporters may face delays and increased costs to meet Hungary's new certification standards, potentially reducing short-term trade volumes until compliance is achieved.
US Ipé Wood Suppliers Eye Hungarian Market Growth
With growing demand for durable hardwoods like Ipé (Brazilian walnut) in Hungary's construction sector, US suppliers are exploring partnerships to expand market presence.
2023-07-20
Impact: This trend could lead to a steady rise in Ipé trade between the two countries, provided logistical and regulatory challenges are addressed.
Policy Updates
Hungary Aligns with EU Timber Regulation for Ipé Imports
Hungary has adopted stricter EU timber import regulations, requiring detailed documentation for Ipé wood (HS Code: 4407.29) to combat illegal logging. US exporters must provide proof of sustainable sourcing to avoid penalties.
Date: 2023-08-10
US Updates Export Guidelines for Specialty Woods to Hungary
The US Department of Commerce has issued updated export guidelines for specialty woods like Ipé, including streamlined certification processes to facilitate trade with Hungary and other EU nations.
