A new bilateral trade agreement between the US and Philippines has reduced tariffs on tech products, including combined input/output units (HS Code: 8471.60), facilitating increased exports from the Philippines to the US.
2023-10-15
Impact: This is expected to increase the volume of combined input/output units exported from the Philippines to the US by 15% over the next year due to lower costs and improved market access.
Philippines Increases Production Capacity for Tech Hardware
Philippine manufacturers have ramped up production of combined input/output units to meet growing US demand, supported by foreign direct investment in the sector.
2023-09-20
Impact: This could lead to a 10% rise in exports to the US, strengthening supply chains for American tech companies reliant on these components.
US Imposes Stricter Quality Standards on Imported Tech Components
The US has introduced new quality control regulations for imported tech components, including combined input/output units, affecting shipments from the Philippines.
2023-08-05
Impact: Philippine exporters may face delays and higher compliance costs, potentially reducing trade volume by 5% in the short term until standards are met.
Policy Updates
US-Philippines Tariff Reduction on Tech Goods
A new policy under the US-Philippines trade framework reduces tariffs on tech goods, including combined input/output units (HS Code: 8471.60), from 5% to 2%, effective immediately.
Date: 2023-10-10
Philippines Updates Export Incentives for Tech Sector
The Philippine government has introduced tax incentives for exporters of tech hardware, including combined input/output units, to encourage production and boost trade with the US.
