Applicable under the Compact of Free Association between the United States and Micronesia for qualifying goods.
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Last updated: 1 year ago
News and Updates
Recent News
US Increases Exports of Mercury Compounds to Micronesia
Recent trade data indicates a surge in exports of mercury compounds (HS Code: 2852) from the United States to the Federated States of Micronesia, driven by demand in industrial applications.
2023-10-15
Impact: This increase may strengthen trade ties but raises environmental concerns due to mercury's toxicity, potentially leading to stricter regulations.
Micronesia Seeks Molybdenum for Infrastructure Projects
The Federated States of Micronesia has initiated discussions with US suppliers for importing molybdenum (HS Code: 2613) to support infrastructure development and steel production.
2023-09-20
Impact: This could lead to a steady rise in molybdenum trade, fostering economic collaboration between the two regions.
US-Micronesia Trade Agreement Boosts Chemical Exports
A bilateral trade agreement has facilitated increased exports of mercury and molybdenum products from the US to Micronesia, focusing on industrial and mining sectors.
2023-08-05
Impact: The agreement is expected to enhance trade volumes, though monitoring for compliance with environmental standards will be critical.
Policy Updates
US Updates Export Controls on Mercury Compounds
The US Department of Commerce has introduced stricter export controls on mercury compounds (HS Code: 2852) to align with international environmental agreements like the Minamata Convention, affecting shipments to Micronesia.
Date: 2023-10-01
Micronesia Revises Import Tariffs on Molybdenum
The Federated States of Micronesia has reduced import tariffs on molybdenum (HS Code: 2613) to encourage industrial growth, making it more cost-effective for US exporters.
