Applicable under the U.S.-Mongolia Bilateral Trade Agreement if goods meet rules of origin criteria.
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Last updated: 1 year ago
News and Updates
Recent News
US-Mongolia Trade Agreement on Steel Products
A new bilateral agreement has been signed between the US and Mongolia to facilitate trade in steel products, including those measuring 5 mm or more but less than 10 mm in thickness (HS Code: 7210.49). This agreement aims to reduce tariffs and increase export volumes from Mongolia to the US.
2023-10-15
Impact: Expected to boost Mongolian steel exports to the US by 15% annually, benefiting US industries with access to cost-effective materials.
US Imposes Temporary Quota on Mongolian Steel Imports
The US Department of Commerce introduced a temporary quota on steel imports from Mongolia, including products under HS Code 7210.49, due to concerns over market saturation.
2023-09-01
Impact: May limit Mongolian steel exports to the US in the short term, potentially affecting bilateral trade balance.
Mongolia Increases Production Capacity for Steel Sheets
Mongolian steel manufacturers have expanded production facilities for steel sheets measuring 5 mm to less than 10 mm in thickness, targeting the US market under HS Code 7210.49.
2023-08-20
Impact: Could lead to increased supply to the US, pending resolution of quota restrictions, potentially lowering prices for US buyers.
Policy Updates
US Tariff Adjustment on Steel Imports from Mongolia
The US has adjusted tariffs on steel imports under HS Code 7210.49 from Mongolia, reducing the rate by 5% as part of the recent trade agreement to encourage fair trade practices.
Date: 2023-10-10
Mongolia Introduces Export Incentive for Steel Products
The Mongolian government has rolled out a new export incentive program offering tax rebates to steel producers exporting under HS Code 7210.49, aiming to strengthen trade ties with the US.
