United States to Mongolia Trade Analysis
for Articles of yarn, strip or the like of heading 5404 or 5405, twine, cordage, rope or cables, not elsewhere specified or included
Detailed tariff information for Articles of yarn, strip or the like of heading 5404 or 5405, twine, cordage, rope or cables, not elsewhere specified or included imports
Articles of yarn, strip or the like of heading 5404 or 5405, twine, cordage, rope or cables, not elsewhere specified or included Tariff Rate
Stable with minor fluctuations over the past 5 years
Special Rates
Preferential Rate
0%
Applicable under the Generalized System of Preferences (GSP) for least developed countries, if the United States qualifies under specific agreements or temporary provisions.
A new bilateral trade agreement between the United States and Mongolia has reduced tariffs on various textile products, including articles of yarn, strip, twine, cordage, rope, and cables under HS Code 5607. This is expected to increase exports from Mongolia to the US.
2023-10-15
Impact: Positive impact on Mongolian exporters with reduced tariffs, potentially increasing US imports of these products by 15-20% over the next year.
US Importers Show Interest in Mongolian Cordage Products
Several US-based companies have expressed interest in importing cordage and rope products from Mongolia due to competitive pricing and quality, following a trade expo in Ulaanbaatar.
2023-09-22
Impact: Likely to result in a modest increase in trade volume for HS Code 5607 products, strengthening economic ties between the two countries.
Recent disruptions in shipping routes have delayed deliveries of yarn and twine products (HS Code 5607) from Mongolia to the United States, causing temporary shortages for some US manufacturers.
2023-08-30
Impact: Negative short-term impact on trade flow, with potential cost increases for US buyers due to delays and higher shipping fees.
Policy Updates
US-Mongolia Tariff Reduction on Textile Goods
The US Trade Representative announced a tariff reduction on specific textile categories, including HS Code 5607 (articles of yarn, twine, cordage, rope, etc.), as part of a broader trade facilitation agreement with Mongolia to promote mutual economic growth.
