U.S.-Hungary Trade Agreement on Steel Products
The United States and Hungary have finalized a trade agreement focusing on steel products under HS Code categories, including those with a maximum cross-sectional dimension of 18 mm or more. This deal aims to reduce tariffs and increase bilateral trade volume.
2023-10-15
Impact: This agreement is expected to boost exports of steel products from Hungary to the U.S., potentially increasing market access for Hungarian manufacturers and lowering costs for U.S. buyers.
U.S. Imposes Temporary Quota on Hungarian Steel Imports
The U.S. Department of Commerce introduced a temporary quota on Hungarian steel imports, including items with a cross-sectional dimension of 18 mm or more, to protect domestic producers amidst rising import levels.
2023-09-01
Impact: The quota may restrict Hungarian steel exports to the U.S., potentially leading to reduced trade volumes and prompting Hungary to seek alternative markets.
Hungary Responds to U.S. Steel Tariff Concerns
Hungarian trade officials met with U.S. counterparts to address concerns over tariffs on steel products with dimensions of 18 mm or more, advocating for exemptions under specific trade pacts.
2023-08-20
Impact: Successful negotiations could lead to tariff exemptions, fostering smoother trade relations and potentially increasing Hungarian steel exports to the U.S.
