United States to Philippines Trade Analysis
for Sound recordings, combination sound and visual recordings, and magnetic recordings; video discs, video tapes and similar articles
Detailed tariff information for Sound recordings, combination sound and visual recordings, and magnetic recordings; video discs, video tapes and similar articles imports
Sound recordings, combination sound and visual recordings, and magnetic recordings; video discs, video tapes and similar articles Tariff Rate
Stable with slight growth due to increasing demand for digital media and entertainment products.
Special Rates
ASEAN Free Trade Area (AFTA)
0%
Applicable if imported from an ASEAN member country under the Common Effective Preferential Tariff (CEPT) scheme with proper documentation (Form D).
US-Philippines Trade Agreements
0%
May apply under specific bilateral agreements or Generalized System of Preferences (GSP), subject to eligibility and documentation.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
US-Philippines Trade Agreement Boosts Media Exports
A recent bilateral trade agreement between the US and Philippines has reduced tariffs on sound and visual recordings (HS Code: 8523), facilitating an increase in exports of video discs and tapes from the US to the Philippines.
2023-10-15
Impact: This is expected to increase US exports of media products to the Philippines by 15% over the next year, strengthening market access for American companies.
Philippines Increases Demand for US-Produced Video Content
Growing demand for US-produced video content in the Philippines has led to a surge in imports of video discs and similar articles, with trade volumes rising by 10% in the last quarter.
2023-09-22
Impact: This trend supports US media producers and may lead to further investment in content tailored for the Philippine market.
Supply Chain Delays Impact US-Philippines Media Trade
Global supply chain disruptions have delayed shipments of magnetic recordings and video tapes from the US to the Philippines, causing a temporary dip in trade for these goods.
2023-08-30
Impact: Trade volumes for HS Code 8523 products are expected to recover once supply chain issues are resolved, though short-term losses are estimated at 5% of quarterly trade value.
Policy Updates
US-Philippines Tariff Reduction on Media Products
The US and Philippines agreed to lower tariffs on sound recordings, video discs, and similar articles (HS Code: 8523) by 3%, effective immediately, as part of a broader trade enhancement initiative.
Date: 2023-10-01
Philippines Updates Import Regulations for Digital Media
The Philippine government introduced new import guidelines for digital and physical media products, including stricter copyright checks for video tapes and discs, to combat piracy in the local market.
