Increasing, with a 15% growth in bilateral trade since 2021
Special Rates
Free Trade Agreement Rate
0%
Applies to goods meeting the rules of origin under the U.S.-Oman FTA and subject to quantitative limits as specified in U.S. Note 20 to the relevant subchapter.
The U.S. and Oman have reaffirmed their commitment to the Free Trade Agreement (FTA), focusing on maintaining quantitative limits under U.S. note 20 for specific goods. Discussions highlighted compliance with HS Code regulations.
October 15, 2023
Impact: This ensures stability in trade flows for goods under specified quotas, potentially benefiting U.S. exporters by maintaining predictable market access to Oman.
Oman Increases Textile Exports Within U.S. Quota Limits
Oman has ramped up textile exports to the U.S. under the quantitative limits specified in U.S. note 20, leveraging the FTA to maximize market share without exceeding caps.
September 20, 2023
Impact: Increased exports may intensify competition for U.S. domestic textile producers, though the quota limits prevent market oversaturation.
U.S. Customs Reviews Compliance with Oman Trade Quotas
U.S. Customs and Border Protection announced a review of imports from Oman under HS Code categories subject to U.S. note 20, ensuring adherence to quantitative limits.
August 5, 2023
Impact: Stricter enforcement could delay shipments or impose penalties on non-compliant imports, affecting trade efficiency between the two nations.
Policy Updates
Extension of U.S.-Oman FTA Quota Monitoring
The U.S. Trade Representative extended monitoring mechanisms for goods under U.S. note 20 to subchapter HS Codes, ensuring that quantitative limits with Oman are strictly followed for the next fiscal year.
