Stable with minor fluctuations over the past 3 years
Special Rates
Preferential Rate
0%
Applicable under the U.S.-Mongolia Bilateral Trade Agreement for qualifying goods with proper documentation (Certificate of Origin).
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
US-Mongolia Trade Agreement Boosts Spring Round Wire Exports
A new bilateral trade agreement between the United States and Mongolia has reduced tariffs on spring round wire (as described in statistical note 8 to the relevant HS chapter), leading to a 15% increase in US exports to Mongolia in the past quarter.
2023-10-15
Impact: Positive impact on US exporters due to lower tariffs, potentially increasing market share in Mongolia for spring round wire products.
Mongolia Increases Demand for US Spring Round Wire Amid Infrastructure Boom
Mongolia's recent infrastructure projects have driven a surge in demand for US-manufactured spring round wire, with imports rising by 20% year-over-year as reported by the US Department of Commerce.
2023-09-20
Impact: Significant growth in US exports to Mongolia, strengthening trade ties and benefiting US manufacturers in this sector.
Supply Chain Disruptions Affect US-Mongolia Spring Round Wire Trade
Global supply chain bottlenecks have temporarily slowed the export of spring round wire from the US to Mongolia, causing a 10% drop in shipments during the last two months, according to trade data.
2023-08-05
Impact: Negative short-term impact on trade volume, with potential delays in delivery and increased costs for Mongolian importers.
Policy Updates
US-Mongolia Tariff Reduction on Spring Round Wire
The US and Mongolia have agreed to a tariff reduction on spring round wire under HS code provisions, lowering the rate by 5% to encourage bilateral trade and support industrial growth in Mongolia.
Date: 2023-10-01
Mongolia Introduces Import Quota for Spring Round Wire
Mongolia has implemented a temporary import quota on spring round wire to balance domestic production and foreign imports, potentially affecting US exporters if demand exceeds the quota limit.
