Stable with slight increase of 3% from previous year
Special Rates
Preferential Rate
7.5%
Applicable under the United States-Sri Lanka bilateral trade agreements or GSP (Generalized System of Preferences) if eligibility criteria are met.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
U.S. Increases Import of Hammers from Sri Lanka in Q3 2023
Recent trade data shows a 12% increase in the import of hammers and sledge hammers (HS Code: 8205.20) from Sri Lanka to the United States in the third quarter of 2023, driven by demand in the construction sector.
October 15, 2023
Impact: This surge strengthens bilateral trade ties and benefits Sri Lankan exporters, potentially encouraging further investment in tool manufacturing.
Sri Lankan Hammer Manufacturers Eye U.S. Market Expansion
Several Sri Lankan tool manufacturers showcased their hammer and sledge hammer products at a U.S. trade expo, aiming to secure long-term contracts with American distributors.
September 5, 2023
Impact: Increased exposure could lead to higher export volumes, though competition with other Asian suppliers may pressure pricing.
Shipping delays due to port congestion in Sri Lanka have temporarily disrupted the supply of hammers and parts to the U.S., causing minor shortages in some retail markets.
August 20, 2023
Impact: Short-term trade disruptions may affect U.S. retailers' inventory levels, potentially increasing costs for consumers if delays persist.
Policy Updates
U.S. Tariff Review on Hand Tools from Sri Lanka
The U.S. Trade Representative announced a review of tariffs on hand tools, including hammers (HS Code: 8205.20), imported from Sri Lanka under the Generalized System of Preferences (GSP), with potential adjustments expected by early 2024.
