US-Hungary Trade Agreement Boosts Paint and Varnish Exports
A new bilateral trade agreement between the United States and Hungary has reduced tariffs on paints and varnishes (HS Code 3208), facilitating an increase in exports from the US to Hungary. Several American manufacturers reported a surge in demand for synthetic polymer-based paints.
2023-10-15
Impact: Positive impact on US exporters with reduced tariffs leading to a potential 15% increase in export volume to Hungary.
Hungarian Paint Industry Faces Supply Chain Delays from US
Due to logistical disruptions at major US ports, shipments of non-aqueous medium paints and varnishes to Hungary have been delayed, affecting Hungarian construction and automotive sectors reliant on these imports.
2023-09-22
Impact: Negative short-term impact on Hungarian industries due to delayed deliveries, potentially increasing costs by 10%.
US Importers Report Quality Compliance Issues with Hungarian Varnishes
Several US companies importing paints and varnishes from Hungary have flagged non-compliance with US environmental standards for synthetic polymer solutions, leading to temporary holds on shipments at customs.
2023-08-30
Impact: Negative impact on Hungarian exports to the US, with potential market share loss if compliance issues persist.
