U.S. Extends Tariff Exclusions for Iron and Steel Products from South Korea
The U.S. Department of Commerce announced an extension of specific tariff exclusions under Section 232 for certain iron and steel products from South Korea, as per U.S. note 16(c). This applies to products enumerated in note 16(b) and impacts trade dynamics with Hungary as a transit or secondary market.
October 15, 2023
Impact: This extension facilitates smoother trade flows for South Korean steel products through Hungary to the U.S., potentially increasing export volumes and stabilizing prices for these goods.
Argentina Secures New Steel Product Exclusions Under U.S. Tariff Policy
Argentina has been granted exclusions by the U.S. Secretary of Commerce for specific iron and steel products under note 16(c). These products, covered by note 16(b), are part of ongoing trade negotiations involving Hungary as a key logistics hub.
September 28, 2023
Impact: The exclusions are expected to boost Argentina's steel exports to the U.S. via Hungary, strengthening bilateral trade ties and potentially reducing costs for U.S. importers.
Brazil's Steel Sector Benefits from Updated U.S. Tariff Exclusions
Brazil received updated tariff exclusions from the U.S. under note 16(c) for select iron and steel products listed in note 16(b). Hungary plays a role as a distribution point for these products entering the U.S. market.
August 10, 2023
Impact: This update supports Brazil's steel exports to the U.S., likely increasing trade throughput via Hungary and enhancing market access for Brazilian manufacturers.
