US-Australia Silk Trade Agreement Progress
Negotiations between the US and Australia have advanced to increase the export of silk products containing 70% or more by weight of silk or silk waste (HS Code 733) to the US market, focusing on luxury textile sectors.
2023-10-15
Impact: This could lead to a significant boost in Australian silk exports to the US, potentially increasing trade volume by 15% over the next two years.
Australian Silk Producers Eye US Market Expansion
Australian silk producers reported a surge in demand for high-quality silk (HS Code 733) from US fashion houses, prompting discussions for streamlined trade processes.
2023-09-22
Impact: Increased demand may result in higher export revenues for Australian producers and stronger bilateral trade ties, though supply chain constraints could pose challenges.
US Importers Seek Australian Silk Amid Global Shortages
Due to disruptions in traditional silk supply chains from Asia, US importers are turning to Australian suppliers for silk products under HS Code 733 to meet domestic demand.
2023-08-30
Impact: This shift could diversify US silk import sources, potentially increasing Australia’s market share, though long-term sustainability depends on consistent supply and pricing.
