U.S. Imposes New Tariffs on Myanmar Metal Fasteners Amid Political Concerns
The United States has introduced additional tariffs on imports of nails, screws, bolts, and similar copper and iron or steel articles (HS Code 7415) from Myanmar due to ongoing political instability and human rights concerns.
2023-10-15
Impact: This is likely to reduce imports of these products from Myanmar, increase costs for U.S. buyers, and push businesses to source from alternative countries.
Decline in U.S.-Myanmar Trade of Fasteners Due to Supply Chain Disruptions
Trade data indicates a significant drop in U.S. imports of copper and steel fasteners from Myanmar, attributed to supply chain disruptions and political unrest affecting production capacities.
2023-08-22
Impact: U.S. companies reliant on Myanmar for these products may face shortages and need to diversify supply chains, potentially increasing costs.
U.S. Businesses Seek Alternatives as Myanmar Fastener Exports Face Restrictions
Amidst tightened U.S. sanctions on Myanmar, exports of nails, screws, and similar articles have declined, prompting U.S. businesses to explore alternative suppliers in Southeast Asia.
2023-06-30
Impact: This shift could lead to a long-term reduction in trade volume for these products between the U.S. and Myanmar, affecting bilateral trade relations.
