U.S. and Luxembourg Strengthen Trade Ties with New Agreement
The United States and Luxembourg have signed a bilateral trade agreement aimed at reducing barriers and increasing market access for goods and services. This agreement focuses on digital trade and intellectual property rights.
October 15, 2023
Impact: This agreement is expected to boost exports of U.S. technology and financial services to Luxembourg, potentially increasing bilateral trade volume by 10% over the next five years.
Luxembourg Implements New Export Controls on Dual-Use Goods
Luxembourg has introduced stricter export controls on dual-use goods, aligning with EU regulations. This affects certain technology and industrial products shipped to the U.S.
September 20, 2023
Impact: U.S. importers may face delays and additional compliance costs for specific high-tech goods from Luxembourg, potentially affecting supply chains in sectors like aerospace and defense.
U.S. Adjusts Tariff Quotas for Luxembourg Steel Imports
The U.S. has revised tariff-rate quotas for steel imports from Luxembourg under Section 232, allowing a slight increase in quota limits for 2023-2024.
August 5, 2023
Impact: This adjustment provides marginal relief to Luxembourg steel exporters, potentially increasing U.S. imports by 5% in this category, though overall trade impact remains limited.
