U.S.-Hungary Bilateral Trade Agreement

In April 2002, Hungary agreed to reduce or suspend its tariffs on $180 million worth of key U.S. agricultural and industrial exports. In 2007, the United States exported over $1.2 billion to Hungary. California exported $194 million worth of goods to Hungary last year.

In Washington, former U.S. Trade Representative Robert B. Zoellick praised the agreement, noting that its implementation would "establish a more level playing field for U.S. exports to Hungary."

On the industrial side, the U.S. export products covered include steam and gas turbines, large engine autos and auto and tractor parts, automatic data processing machines, office machine parts, beauty products, various chemicals, plastics, medical instruments and equipment, laser disks, and telephone equipment. On the agricultural side, the U.S. export products include almonds and pecans, grapefruit, and bovine products.

In light of Hungary's commitments, the United States intends to continue its support for Hungary's participation in the U.S. trade preference program, known as the U.S. Generalized System of Preferences (GSP).