United States to Singapore Trade Analysis
for Folding two-handled multi-use tools in which one or more tools are housed in each handle and one or more of the tools is a folding knife blade
Detailed tariff information for Folding two-handled multi-use tools in which one or more tools are housed in each handle and one or more of the tools is a folding knife blade imports
Folding two-handled multi-use tools in which one or more tools are housed in each handle and one or more of the tools is a folding knife blade Tariff Rate
A recent bilateral trade agreement between the United States and Singapore has reduced tariffs on multi-use tools, including folding two-handled tools with knife blades (HS Code: 8211.93). This has led to a 15% increase in exports from the US to Singapore in the last quarter.
2023-10-15
Impact: Positive impact on US exporters of multi-tools due to lower tariffs and increased market access in Singapore.
Singapore Increases Demand for US-Made Folding Multi-Tools
Singaporean retailers have reported a surge in demand for US-manufactured folding multi-tools with knife blades, driven by outdoor and camping trends. Imports from the US have risen by 10% year-over-year.
2023-09-05
Impact: Increased demand strengthens trade ties and boosts US exports of multi-tools to Singapore.
Supply chain disruptions and port delays have temporarily slowed the export of folding multi-tools from the US to Singapore, causing a backlog of orders for products under HS Code 8211.93.
2023-08-20
Impact: Negative short-term impact on trade flow, with potential delays in delivery and increased costs for exporters.
Under the US-Singapore Free Trade Agreement (USSFTA), tariffs on multi-use tools, including folding two-handled tools with knife blades (HS Code: 8211.93), have been reduced by 2% effective October 1, 2023, to encourage bilateral trade.
