US-Namibia Trade Agreement Boosts Fastener Exports
A recent bilateral trade agreement between the United States and Namibia has reduced tariffs on various industrial goods, including nails, screws, and bolts under HS Code 7318. This has led to a 15% increase in US exports of these items to Namibia in the last quarter.
2023-10-15
Impact: Positive impact on US exporters of fasteners, with potential for further market expansion in Namibia due to lowered trade barriers.
Namibia Increases Demand for US-Made Fasteners
Namibia's growing construction sector has driven a surge in demand for high-quality fasteners such as screws, bolts, and nuts. US suppliers have reported a 10% rise in orders for products under HS Code 7318 over the past six months.
2023-09-02
Impact: Increased export opportunities for US manufacturers, though supply chain constraints may limit short-term growth.
Logistics Challenges Affect US-Namibia Fastener Trade
Shipping delays and port congestion have impacted the delivery of nails, tacks, and similar articles from the US to Namibia. Trade data shows a temporary 5% decline in shipments under HS Code 7318 in the third quarter of 2023.
2023-08-20
Impact: Negative short-term impact on trade volumes, with potential cost increases for US exporters and Namibian importers.
