Stable with slight increase of 3% from previous year
Special Rates
Preferential Rate under US-Myanmar Trade Agreement
0%
Applicable only to qualifying goods under specific trade agreements or programs; requires Certificate of Origin
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
US Sanctions Impact Machinery Exports to Myanmar
New US sanctions on Myanmar due to political unrest have led to restrictions on exports, including machinery for the extraction or preparation of animal or vegetable fats or oils (HS Code: 8479.20).
2023-10-15
Impact: Significant reduction in trade volume as US exporters face compliance challenges and reduced market access.
Myanmar Seeks Alternative Suppliers for Oil Extraction Machinery
Amidst US trade restrictions, Myanmar is reportedly looking to source machinery for oil extraction from other countries, impacting US-Myanmar trade relations.
2023-09-20
Impact: Potential long-term loss of market share for US exporters in Myanmar’s oil processing sector.
US-Myanmar Trade Talks Stalled Over Machinery Exports
Ongoing political tensions have stalled trade negotiations between the US and Myanmar, affecting exports of specialized machinery, including those under HS Code 8479.20.
2023-08-05
Impact: Uncertainty in trade agreements may lead to further delays and reduced exports from the US to Myanmar.
Policy Updates
US Imposes New Export Controls on Myanmar
The US Department of Commerce has updated export controls, restricting the sale of certain industrial machinery, including equipment for oil extraction (HS Code: 8479.20), to Myanmar due to human rights concerns.
Date: 2023-10-01
Myanmar Introduces Import Tariffs on Industrial Machinery
Myanmar’s government has implemented new tariffs on imported industrial machinery, including equipment for the preparation of fats and oils, to encourage local manufacturing.
