Increasing by 8% annually due to demand for processed goods
Special Rates
Preferential Rate
0%
Applicable under the U.S.-Mongolia Trade Agreement for specific goods meeting origin criteria
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
U.S.-Mongolia Trade Agreement Progress on 'Of a Kind for Processing' Goods
The U.S. and Mongolia have initiated discussions to streamline trade processes for goods classified under 'of a kind for processing' as per Statistical Note 3 of the Harmonized System (HS) Code. This aims to reduce tariffs on specific processed items.
2023-10-15
Impact: This could lead to increased trade volume by lowering costs for Mongolian exporters of processed goods to the U.S., potentially boosting sectors like textiles and agricultural products.
Mongolia Seeks Tariff Exemptions for Processed Goods in U.S. Market
Mongolian trade officials have requested exemptions from certain U.S. tariffs on goods categorized under 'of a kind for processing' to enhance competitiveness of their exports, particularly in niche markets.
2023-09-22
Impact: If approved, this could improve market access for Mongolian goods, fostering stronger bilateral trade ties and benefiting small-scale producers.
U.S. Reviews Classification of Mongolian Imports Under HS Code Provisions
The U.S. Customs and Border Protection agency is reviewing the classification of certain Mongolian imports under Statistical Note 3 to ensure compliance with 'of a kind for processing' guidelines, addressing potential misclassification issues.
2023-08-10
Impact: This review may temporarily slow down import processes but aims to ensure fair trade practices, potentially affecting pricing and supply chains for Mongolian processed goods.
Policy Updates
U.S. Updates Guidelines for 'Of a Kind for Processing' Imports
The U.S. Department of Commerce has issued updated guidelines for the classification of goods under Statistical Note 3 of the HS Code, emphasizing stricter documentation for 'of a kind for processing' items to prevent tariff evasion. This applies to imports from countries including Mongolia.
Date: 2023-09-01
Mongolia Revises Export Policies for Processed Goods to U.S.
Mongolia's Ministry of Trade has introduced new export certification requirements for goods classified as 'of a kind for processing' to meet U.S. regulatory standards, aiming to reduce delays at customs and improve compliance.
