Stable with slight increase of 2% from previous year
Special Rates
Preferential Rate
0%
Applicable under specific trade agreements or for certain quotas; requires documentation of origin.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
US-Mongolia Trade Agreement Discussions on Petroleum Products
Recent talks between the United States and Mongolia have focused on expanding trade in petroleum oils and bituminous mineral oils (HS Code: 2709). Both countries are exploring potential agreements to facilitate exports and imports in this sector.
2023-10-15
Impact: This could lead to increased US exports of refined petroleum products to Mongolia, potentially boosting bilateral trade volumes in this category.
Mongolia Seeks US Investment in Bituminous Oil Extraction
Mongolian officials have invited US companies to invest in the extraction and processing of bituminous mineral oils, aiming to strengthen economic ties and enhance export capabilities to the US market.
2023-09-22
Impact: Potential US investments may increase Mongolia's export capacity of bituminous oils to the US, creating new trade opportunities.
US Imposes Temporary Restrictions on Petroleum Imports from Mongolia
The US government has introduced temporary restrictions on petroleum oil imports from Mongolia due to compliance issues with environmental standards, affecting trade under HS Code 2709.
2023-08-05
Impact: This restriction may reduce short-term imports of petroleum oils from Mongolia to the US, impacting Mongolian exporters.
Policy Updates
US Updates Import Regulations for Petroleum Oils
The US Department of Commerce has updated import regulations for petroleum oils and oils from bituminous minerals (HS Code: 2709), introducing stricter environmental and quality standards for all trading partners, including Mongolia.
Date: 2023-10-01
Mongolia Revises Export Tariffs on Bituminous Oils
Mongolia has revised its export tariffs on bituminous mineral oils, reducing rates to encourage trade with key partners like the United States, under HS Code 2709.
