Applicable under the Generalized System of Preferences (GSP) for eligible goods from the United States, subject to certification of origin.
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Last updated: 1 year ago
News and Updates
Recent News
US-Mongolia Trade Agreement Talks Progress
Negotiations between the United States and Mongolia for a potential trade agreement have advanced, focusing on reducing tariffs for specific HS Code categories during a recent bilateral meeting.
September 15, 2023
Impact: If finalized, this could lower barriers for US exports to Mongolia and boost imports of Mongolian goods, particularly in targeted sectors.
Mongolia Increases Exports of Textiles to the US
Mongolia reported a 12% increase in textile exports (under relevant HS Codes) to the US, driven by demand for sustainable and specialty fabrics.
August 20, 2023
Impact: This growth strengthens Mongolia's position as a niche supplier to the US market, potentially encouraging further trade incentives.
US Imposes Temporary Quota on Mongolian Imports
The US introduced a temporary quota on certain Mongolian imports under specific HS Codes to protect domestic industries amid rising import volumes.
August 5, 2023
Impact: This may limit Mongolian exports in the short term, potentially affecting bilateral trade balance and prompting retaliatory measures.
Policy Updates
US-Mongolia Tariff Adjustment Proposal
The US Trade Representative proposed a tariff adjustment for select HS Code categories in trade with Mongolia to address trade imbalances, pending approval.
Date: September 10, 2023
Mongolia Revises Export Duties
Mongolia updated its export duty structure for certain goods under HS Codes, aiming to encourage trade with the US by reducing costs for exporters.
