A new trade agreement between the United States and Tonga has facilitated an increase in the export of steel billets of uniform circular cross section (HS Code: 7207.11) from the US to Tonga, focusing on infrastructure development projects.
2023-10-15
Impact: This agreement is expected to increase US exports of steel billets to Tonga by 15% over the next year, strengthening bilateral trade ties.
Tonga Implements New Import Standards for Steel Billets
Tonga has introduced stricter quality control measures for imported steel billets (HS Code: 7207.11) to ensure safety and compliance with local construction standards, affecting US exporters.
2023-09-01
Impact: US exporters may face delays or additional costs to meet Tonga's new quality standards, potentially impacting trade volume temporarily.
US Steel Billets Gain Market Share in Tonga
US steel billets of uniform circular cross section (HS Code: 7207.11) have seen a surge in demand in Tonga due to competitive pricing and reliable supply chains compared to other global suppliers.
2023-07-20
Impact: This trend is likely to enhance US market presence in Tonga, with a projected 10% growth in trade value for this product category in 2023.
Policy Updates
US-Tonga Bilateral Trade Framework Update
The US and Tonga updated their bilateral trade framework to include specific provisions for steel products, including billets (HS Code: 7207.11), reducing tariffs by 5% to encourage trade.
Date: 2023-10-10
Tonga's Revised Import Duty on Steel Products
Tonga revised its import duty structure for steel billets (HS Code: 7207.11), introducing a temporary exemption for small-volume importers to support local businesses, which may affect larger US exporters.
