United States to Lithuania Trade Analysis for Designed for use in construction or mining

Detailed tariff information for Designed for use in construction or mining imports

Designed for use in construction or mining Tariff Rate

HS Code:

2.7%

Effective 2023-01-01

View general trade relationship between United States and Lithuania

Trade Volume

Value

USD 15 million

Year

2022

Trend

Stable with slight growth of 3% compared to 2021

Special Rates

Preferential Rate

Applicable under the EU-US Trade Agreement for specific goods meeting rules of origin requirements.

Additional Information

No additional information available.

Last updated: 1 year ago

News and Updates

Recent News

U.S.-Lithuania Trade Agreement Boosts Construction Equipment Exports

A recent bilateral trade agreement between the United States and Lithuania has reduced tariffs on construction and mining equipment (HS Code: 8430), facilitating an increase in U.S. exports to Lithuania.

2023-10-15

Impact: This agreement is expected to increase U.S. exports of construction machinery to Lithuania by 15% over the next year, strengthening trade ties.

Lithuanian Demand for U.S. Mining Machinery Surges

Lithuania's mining sector has seen a spike in demand for U.S.-made machinery, with imports of equipment under HS Code 8430 rising by 20% in the last quarter.

2023-09-22

Impact: The surge in demand is likely to benefit U.S. manufacturers, potentially leading to higher production and job creation in the sector.

Supply Chain Delays Affect U.S.-Lithuania Equipment Trade

Global supply chain disruptions have delayed shipments of construction and mining equipment from the U.S. to Lithuania, impacting project timelines in the Baltic region.

2023-08-30

Impact: Delays may temporarily reduce trade volume and increase costs for Lithuanian buyers, potentially affecting future contracts.

Policy Updates

U.S. Tariff Reduction on Construction Equipment Exports to Lithuania

The U.S. government announced a 5% tariff reduction on construction and mining equipment (HS Code: 8430) exported to Lithuania as part of a broader trade facilitation initiative.

Date: 2023-10-10

Lithuania Implements New Import Standards for Mining Machinery

Lithuania has introduced stricter safety and environmental standards for imported mining equipment, requiring U.S. exporters to comply with updated certification processes.

Date: 2023-09-05

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