Decreasing due to political instability and trade restrictions
Special Rates
Preferential Rate under US-Myanmar Trade Agreement
0%
Applicable to specific exporters under GSP (Generalized System of Preferences) if reinstated; currently suspended due to political situation.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
U.S. Imposes New Sanctions on Myanmar Affecting Specific Goods Trade
The United States has introduced new sanctions on Myanmar due to ongoing political unrest, impacting the trade of various goods, including cleavers and similar tools under HS Code 8205.59. This move targets specific sectors linked to military entities.
2023-10-15
Impact: Trade of cleavers and related tools between the U.S. and Myanmar may face significant restrictions, potentially reducing export volumes and increasing compliance costs for U.S. businesses.
Myanmar Export Decline Amid U.S. Trade Restrictions
Reports indicate a decline in Myanmar's exports of miscellaneous hand tools, including cleavers (HS Code 8205.59), to the U.S. following tightened trade restrictions and political instability.
2023-09-20
Impact: The decline in exports could lead to reduced market access for Myanmar producers, while U.S. importers may seek alternative suppliers, increasing costs and shifting trade patterns.
U.S. Reviews Trade Policies with Myanmar Over Human Rights Concerns
The U.S. government is reviewing its trade policies with Myanmar, focusing on goods like cleavers and other hand tools (HS Code 8205.59), as part of broader measures addressing human rights violations post-coup.
2023-08-05
Impact: Pending policy changes could further limit or halt trade in these categories, affecting both U.S. importers and Myanmar exporters with potential supply chain disruptions.
Policy Updates
U.S. Department of Commerce Updates Sanctions on Myanmar
The U.S. Department of Commerce announced updated sanctions targeting Myanmar's military-linked entities, including restrictions on the import and export of specific goods under HS Code 8205.59 (cleavers and similar tools not elsewhere specified). Companies must now obtain special licenses for trade in these items.
Date: 2023-10-10
Suspension of Myanmar's GSP Benefits by the U.S.
The U.S. Trade Representative suspended Myanmar's Generalized System of Preferences (GSP) benefits due to political instability, affecting duty-free access for various products, including hand tools like cleavers (HS Code 8205.59). This policy aims to pressure Myanmar's regime but impacts bilateral trade.
