Increasing by 10% annually due to infrastructure development in Oman
Special Rates
Preferential Rate
0%
Applicable under the US-Oman Free Trade Agreement (FTA) for qualifying goods with proper documentation and origin certification.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
US-Oman Trade Agreement Boosts Aerial Work Platform Exports
A recent trade agreement between the United States and Oman under the US-Oman Free Trade Agreement has led to a significant increase in exports of aerial work platforms (HS Code: 8427.10.80, as per statistical note 3) from the US to Oman, with a reported 20% rise in shipments this quarter.
October 15, 2023
Impact: This surge is expected to strengthen bilateral trade ties and provide US manufacturers with a growing market in Oman’s construction and infrastructure sectors.
Oman Increases Demand for US-Made Aerial Work Platforms
Oman’s ongoing infrastructure projects, including the development of Duqm Port, have driven a spike in demand for US-made aerial work platforms, with imports rising by 15% compared to last year.
September 5, 2023
Impact: This trend is likely to benefit US exporters, though supply chain constraints could pose challenges if demand continues to outpace production capacity.
US Exporters Face Logistics Delays in Aerial Work Platform Shipments to Oman
Logistics bottlenecks at key US ports have delayed shipments of aerial work platforms to Oman, causing temporary disruptions for Omani construction firms reliant on these imports.
August 20, 2023
Impact: Delays may lead to short-term reductions in trade volume and could prompt Oman to seek alternative suppliers if issues persist.
Policy Updates
Extension of Duty-Free Status for Aerial Work Platforms under US-Oman FTA
The US and Oman have agreed to extend duty-free status for aerial work platforms (as described in statistical note 3 to HS Chapter 84) under the US-Oman Free Trade Agreement, facilitating smoother and more cost-effective trade for these goods.
