U.S.-Hungary Trade Agreement on Steel Products
The United States and Hungary have reached a new trade agreement focusing on steel products with a maximum cross-sectional dimension exceeding 7 mm (HS Code: 7216). This agreement aims to reduce tariffs and increase bilateral trade volume.
2023-10-15
Impact: Expected to boost exports of steel products from Hungary to the U.S., potentially increasing market access for Hungarian manufacturers while ensuring compliance with U.S. trade regulations.
Hungary Increases Steel Exports to U.S. Under Revised Quotas
Hungary has reported a 15% increase in exports of steel products exceeding 7 mm cross-sectional dimension to the U.S., following adjustments in trade quotas under the Section 232 agreement.
2023-09-22
Impact: This increase strengthens Hungary's position in the U.S. steel market, though it may face scrutiny under U.S. trade remedy laws if volumes exceed agreed limits.
U.S. Imposes Temporary Monitoring on Hungarian Steel Imports
The U.S. Department of Commerce announced temporary monitoring of steel imports from Hungary, specifically targeting products with a cross-sectional dimension exceeding 7 mm, to assess compliance with trade agreements.
2023-08-05
Impact: Could lead to potential restrictions or tariffs if non-compliance is found, affecting Hungarian exporters' market stability in the U.S.
