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Rectangular or near rectangular shapes, containing 99.5 percent or more by weight of gold and not otherwise marked or decorated than with weight, purity, or other identifying information
United States to Philippines Trade Analysis
for Rectangular or near rectangular shapes, containing 99.5 percent or more by weight of gold and not otherwise marked or decorated than with weight, purity, or other identifying information
Detailed tariff information for Rectangular or near rectangular shapes, containing 99.5 percent or more by weight of gold and not otherwise marked or decorated than with weight, purity, or other identifying information imports
Rectangular or near rectangular shapes, containing 99.5 percent or more by weight of gold and not otherwise marked or decorated than with weight, purity, or other identifying information Tariff Rate
Stable with slight increase of 2% from previous year
Special Rates
ASEAN Free Trade Area (AFTA)
0%
Applicable if imported under AFTA agreement with proper certification (Form D) from an ASEAN member country. Note: United States is not an ASEAN member, so this rate does not apply.
Philippines-United States Trade Agreements
0%
May apply under specific bilateral agreements or GSP (Generalized System of Preferences) if the product qualifies and proper documentation is provided.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
US-Philippines Gold Trade Agreement Strengthens Bilateral Ties
A new trade agreement between the United States and the Philippines has facilitated smoother export and import of gold products, including rectangular or near rectangular shapes with 99.5% or more gold content (HS Code: 7108.13.5000). The agreement aims to reduce tariffs and streamline customs processes.
2023-10-15
Impact: This agreement is expected to increase the volume of gold trade between the two nations, benefiting US exporters and Filipino importers by lowering costs and improving market access.
Philippines Increases Gold Imports from US Amid Rising Demand
Recent data shows a significant rise in the import of high-purity gold shapes from the United States to the Philippines, driven by demand in the jewelry and investment sectors. The trade under HS Code 7108.13.5000 has seen a 15% year-on-year increase.
2023-09-20
Impact: The surge in demand may lead to higher export revenues for US gold suppliers, while potentially increasing competition among Filipino buyers.
US Customs Tightens Scrutiny on Gold Exports to Philippines
US Customs and Border Protection announced stricter documentation requirements for gold exports, including rectangular shapes of 99.5% purity or more, to the Philippines to prevent mislabeling and ensure compliance with trade regulations.
2023-08-05
Impact: This could temporarily slow down export processes and increase compliance costs for US exporters, potentially affecting trade volumes in the short term.
Policy Updates
US-Philippines Tariff Reduction on Gold Products
A bilateral trade policy update has reduced tariffs on gold products, including those under HS Code 7108.13.5000, by 5% as part of efforts to boost economic cooperation. This policy will remain in effect for the next two years.
Date: 2023-10-01
Philippines Updates Import Regulations for Precious Metals
The Philippine government has introduced new import guidelines requiring detailed certification of purity and origin for gold imports, including rectangular shapes with 99.5% or more gold content, to combat illicit trade.
