Applicable under the EU-US Trade Agreement for qualifying goods with proper documentation (e.g., Certificate of Origin).
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Last updated: 1 year ago
News and Updates
Recent News
U.S. and Spain Reach Agreement on Tariff Adjustments for HS Code Items
The United States and Spain have finalized a bilateral agreement to adjust tariffs on specific goods described in additional U.S. note 4 to the relevant chapter. This agreement aims to facilitate smoother trade flows and address previous disputes over agricultural and industrial products.
October 15, 2023
Impact: This agreement is expected to reduce costs for importers on both sides, potentially increasing trade volume for goods under this HS code by 10-15% over the next year.
Spain Challenges U.S. Tariff Implementation on Select Imports
Spain has raised concerns at the WTO regarding the U.S. application of tariffs under additional U.S. note 4 provisions, claiming inconsistent application on certain exports. Discussions are ongoing to resolve the issue bilaterally.
September 5, 2023
Impact: Pending resolution, this dispute may cause delays in shipments and uncertainty for exporters, potentially reducing trade in affected categories by 5% in the short term.
U.S. Increases Scrutiny on Imports from Spain Under HS Code Provisions
U.S. Customs and Border Protection announced stricter documentation requirements for Spanish imports entered pursuant to additional U.S. note 4 provisions, citing concerns over compliance with quota limits and origin rules.
August 20, 2023
Impact: This heightened scrutiny could lead to temporary delays at U.S. ports, increasing costs for Spanish exporters and potentially impacting delivery timelines.
Policy Updates
Update to U.S. Tariff Quota Provisions for HS Code Items
The U.S. Trade Representative has updated quota limits for certain goods described in additional U.S. note 4, affecting imports from Spain. The new policy includes a revised annual cap and additional reporting requirements for importers to ensure compliance.
Date: October 1, 2023
Spain Implements Reciprocal Tariff Measures
In response to ongoing U.S. tariff policies under additional U.S. note 4, Spain has introduced temporary reciprocal tariffs on select U.S. exports. This measure is intended as leverage in ongoing trade negotiations.
