US-Lesotho Trade Agreement Boosts Steel Imports
A new trade agreement between the United States and Lesotho has facilitated an increase in the import of steel products, specifically under HS Code for items weighing not more than 11.3 kg per 30.5 cm with web depth of 102 mm to 356 mm, benefiting Lesotho's manufacturing sector.
2023-10-15
Impact: This agreement is expected to enhance Lesotho's export capacity to the US, potentially increasing trade volume by 15% over the next year for these specific steel products.
US Imposes Temporary Quota on Lesotho Steel Imports
The United States has introduced a temporary quota on steel imports from Lesotho under the specified HS Code to protect domestic industries, limiting the volume of lightweight steel beams entering the market.
2023-09-01
Impact: This quota may reduce Lesotho's export revenue for this category by 10% in the short term, prompting Lesotho to seek alternative markets.
Lesotho Expands Steel Production for US Market
Lesotho has ramped up production of lightweight steel beams (weighing not more than 11.3 kg per 30.5 cm, web depth 102 mm to 356 mm) to meet growing US demand, supported by investments in local manufacturing.
2023-08-20
Impact: This expansion could strengthen Lesotho's position as a key supplier to the US, potentially increasing trade value by 20% if demand remains consistent.
