Stable with slight increase of 2% compared to 2021
Special Rates
Preferential Rate under AGOA
0%
Applicable to qualifying goods from the United States under the African Growth and Opportunity Act (AGOA), subject to rules of origin and documentation requirements.
A new trade agreement between the US and Madagascar has facilitated an increase in the export of steel wire (HS Code: 7217, cross-sectional dimension >7 mm) from Madagascar to the US, with a reported 20% rise in shipments this quarter.
2023-10-15
Impact: Positive impact on Madagascar's steel industry, increasing market access to the US and potentially lowering costs for US manufacturers.
US Imposes Quality Checks on Madagascar Steel Wire Imports
The US Department of Commerce has introduced stricter quality control measures for steel wire imports (HS Code: 7217, cross-sectional dimension >7 mm) from Madagascar due to concerns over non-compliance with safety standards.
2023-09-05
Impact: Potential delays in shipments and increased costs for Madagascar exporters; may reduce competitiveness in the US market temporarily.
Madagascar Steel Wire Sector Seeks US Investment
Madagascar's steel wire manufacturers (HS Code: 7217, cross-sectional dimension >7 mm) are engaging with US investors to modernize production facilities, aiming to meet growing US demand.
2023-08-20
Impact: Potential for increased trade volume and improved product quality, strengthening bilateral trade ties in this sector.
Policy Updates
US Updates Import Tariffs on Steel Wire
The US has revised tariffs on steel wire (HS Code: 7217, cross-sectional dimension >7 mm) imports from Madagascar under the African Growth and Opportunity Act (AGOA), reducing the rate by 2% to encourage trade.
Date: 2023-09-10
Madagascar Implements Export Incentives for Steel Products
Madagascar's government has introduced tax incentives for exporters of steel wire (HS Code: 7217, cross-sectional dimension >7 mm) to boost competitiveness in international markets, including the US.
