U.S.-Malta Trade Agreement Boosts Shipbuilding Sector
A recent bilateral trade agreement between the United States and Malta has reduced tariffs on products under HS Code Chapter 89, which covers ships, boats, and floating structures. This has led to an increase in exports of recreational boats from the U.S. to Malta.
2023-10-15
Impact: Positive impact on U.S. exporters of boats and floating structures, with reduced tariffs facilitating market access in Malta and potential growth in trade volume.
Malta Increases Imports of U.S. Yachts Under Chapter 89
Malta's growing tourism sector has driven a surge in demand for luxury yachts and vessels classified under HS Code Chapter 89. U.S. manufacturers have reported a 15% increase in yacht exports to Malta in the past quarter.
2023-09-22
Impact: Significant growth opportunity for U.S. yacht manufacturers, strengthening trade ties with Malta in the luxury marine sector.
U.S. and Malta Discuss Trade Logistics for Marine Equipment
During a recent trade summit, U.S. and Maltese officials addressed logistical challenges in the trade of marine equipment under HS Code Chapter 89. Both parties aim to streamline customs processes to enhance trade efficiency.
2023-08-10
Impact: Potential for smoother trade operations and reduced delays, which could increase the volume of Chapter 89 goods traded between the two countries.
