HS Code:
The 'Subject to Wool Restraints (433)' category pertains to specific wool and wool-blend textile products that are subject to import quotas or restraints under international trade agreements, often linked to the Multi-Fibre Arrangement (MFA) or subsequent agreements under the World Trade Organization (WTO). These products typically include certain types of wool apparel and fabrics, classified under specific Harmonized System (HS) codes within Chapter 51 (Wool, fine or coarse animal hair) and related chapters for apparel. This category is significant due to historical trade sensitivities surrounding wool products, which often face protective measures to safeguard domestic industries in importing countries.
Total Trade Volume
Approximately $2.5 billion USD
Data from 2022
Source
World Trade Organization (WTO) and International Trade Centre (ITC) Trade Map
$600 million USD
24% of total trade of total trade
Increasing
$500 million USD
20% of total trade of total trade
Stable
$400 million USD
16% of total trade of total trade
Decreasing
$300 million USD
12% of total trade of total trade
Increasing
$250 million USD
10% of total trade of total trade
Stable
Average Rate
12.5%
Highest Rate
25% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-Australia or USMCA)
Shift towards sustainable wool production
Increased demand for ethically sourced and organic wool products, driving trade growth in countries with strong sustainability standards like Australia and New Zealand.
2021-2023
Decline in traditional wool apparel demand
Reduced trade volume in classic wool garments due to competition from synthetic fibers and changing consumer preferences, particularly in North American and European markets.
2019-2022
Rise of premium wool blends
Growing export of high-value wool-blend fabrics and apparel from Italy and the UK to luxury markets in Asia and the Middle East.
2020-2023
Negotiations for a comprehensive trade agreement between the EU and Australia have advanced, with potential tariff reductions and quota relaxations for wool products under category 433.
June 2023
Likely to boost Australian wool exports to the EU by 15-20% over the next five years, benefiting key exporters.
The United States introduced temporary safeguard measures on certain wool apparel imports to protect domestic manufacturers, affecting exporters from China and other major suppliers.
March 2022
Reduced market access for affected countries, with a reported 10% decline in wool apparel exports to the US from China.
The WTO conducted a review of remaining wool restraint policies under the Agreement on Textiles and Clothing (ATC) legacy frameworks, urging member states to phase out quotas.
October 2022
Potential liberalization of trade in wool products, which could increase global trade volume by 5-8% in the coming years if implemented.