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Us Surplus, Unit 6 Task

In: Business and Management

Submitted By usangelw
Words 529
Pages 3
The U.S. goods trade surplus with Egypt was $4.6 billion in 2010, an increase of $1.4 billion from 2009. U.S. goods exports in 2010 were $6.8 billion, up 30.1 percent from the previous year. Corresponding U.S. imports from Egypt were $2.2 billion, up 8.3 percent. Egypt is currently the 33rd largest export market for U.S. goods.
Tariffs on most U.S. agricultural product exports to Egypt are 5% or lower; however, a number of processed and high value food products, including poultry meat, face tariff rates ranging from 20% to 30%.
There is a 300% duty on alcoholic beverages for use in the tourism sector, including for hotels, plus a 40 percent sales tax.
The general tariff for alcoholic beverages ranges from 1200% on beer to 1800% on wine to 3000% on sparkling wine and spirits.
Foreign movies are subject to duties and import taxes amounting to 46% and are subject to sales taxes and box offices taxes higher than those for domestic films.
Passenger vehicles may only be imported into Egypt by their original owners, and the owner must have purchased the car within the first 12 months of its production for it to be eligible for importation.
Vitamins and food supplements can only be marketed in Egypt by domestic companies that manufacture them under license or prepare and pack imported ingredients and pre-mixes according to Ministry of Health and Population (MOHP) specifications. Only domestic factories are allowed to produce food supplements and to import raw materials used in the manufacturing process.
The National Nutrition Institute or the Drug Planning and Policy Center of the MOHP register and approve all nutritional supplements, specialty foods, and dietary foods. The definition of specialty foods is very broad and includes processed foods with labels claiming “high in” or “enriched with” vitamins or minerals. The government attempts to complete the approval...

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