Stable with slight increase of 3% from previous year
Special Rates
Preferential Rate
0%
Applicable under the US-Iceland Free Trade Agreement for qualifying goods with proper documentation (Certificate of Origin required).
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
Limited Trade Activity for High Clamp Force Machinery Between US and Iceland
Recent trade data indicates minimal activity in the export or import of machinery with a clamp force equal to or greater than 750 tons (HS Code: 8477.10) between the United States and Iceland, reflecting the niche nature of this product and Iceland's small industrial base.
2023-10-15
Impact: Negligible impact on overall trade due to low demand and limited industrial application in Iceland for such heavy machinery.
US-Iceland Trade Report Highlights Lack of Heavy Machinery Transactions
A quarterly trade report from the US International Trade Commission shows no recorded transactions for machinery with clamp force >= 750 tons between the US and Iceland in the past year, underscoring the rarity of such trade.
2023-09-01
Impact: No significant trade impact; this category remains irrelevant to bilateral trade flows due to Iceland's economic focus on fisheries and tourism rather than heavy manufacturing.
Iceland's Industrial Capacity Limits Heavy Machinery Imports from US
Industry analysis indicates that Iceland's limited manufacturing sector results in virtually no imports of specialized machinery like injection molding equipment with clamp force >= 750 tons from the US, as reported by trade analysts.
2023-07-20
Impact: Trade in this category remains non-existent, with no foreseeable growth due to structural differences in the two economies.
Policy Updates
No Specific Tariff Changes for HS 8477.10 Between US and Iceland
There have been no recent updates or changes in tariff policies or trade agreements specifically affecting machinery with clamp force >= 750 tons (HS Code: 8477.10) between the United States and Iceland. Standard EFTA-US trade frameworks apply with no specific barriers or incentives.
