HS Code:
The 'Subject to man-made fiber restraints (634)' category typically falls under specific Harmonized System (HS) codes related to textiles and apparel made from man-made fibers, such as synthetic or artificial fibers. This category often includes products like woven fabrics, knitted garments, and other textile articles subject to specific trade restraints or quotas under international agreements like the Multi-Fibre Arrangement (MFA) or subsequent bilateral agreements. These restraints are designed to regulate the import and export of such goods to protect domestic industries in importing countries or to manage trade balances. Products in this category are often subject to strict monitoring, licensing, and tariff measures.
Total Trade Volume
Approximately $45 billion USD
Data from 2022
Source
World Trade Organization (WTO) and International Trade Centre (ITC)
$18 billion USD
40% of total trade of total trade
Increasing
$6 billion USD
13% of total trade of total trade
Increasing
$5 billion USD
11% of total trade of total trade
Stable
$4.5 billion USD
10% of total trade of total trade
Increasing
$3 billion USD
7% of total trade of total trade
Stable
Average Rate
12.5%
Highest Rate
25% (imposed by certain developed countries under protective measures)
Lowest Rate
0% (under free trade agreements like CPTPP or RCEP for qualifying countries)
Shift towards sustainable fibers
Growing demand for eco-friendly and recycled man-made fibers is pushing manufacturers to innovate, affecting trade patterns as countries with advanced recycling technologies gain market share.
2021-2023
Regional trade agreements
Agreements like RCEP have reduced tariffs among member countries, increasing intra-Asian trade of man-made fiber products and reducing reliance on Western markets.
2022
Rising labor costs in traditional hubs
Increasing labor costs in countries like China are shifting production to lower-cost regions such as Vietnam and Bangladesh, altering global supply chains.
2020-2023
The United States renewed specific quotas on man-made fiber apparel imports from China as part of ongoing trade negotiations, aiming to balance trade deficits and protect domestic manufacturers.
January 2023
This has led to a slight decrease in Chinese exports to the US, with a corresponding rise in exports from alternative suppliers like Vietnam.
The European Union introduced stricter sustainability and traceability requirements for man-made fiber products, mandating detailed supply chain documentation.
June 2023
Exporters must invest in compliance, potentially increasing costs but also opening opportunities for countries with established sustainable practices.
Vietnam signed multiple free trade agreements, including with the EU and under RCEP, boosting its exports of man-made fiber textiles by reducing tariff barriers.
March 2023
Vietnam has solidified its position as a key player, attracting investment in textile manufacturing and increasing its global market share.