US-Australia Trade Agreement Boosts Clock Movement Exports
A recent bilateral trade agreement between the US and Australia has reduced tariffs on mechanical clock movements (HS 9109.90.60), leading to a surge in exports of these components for grandfather, wall, and mantel clocks from the US to Australia.
2023-10-15
Impact: This tariff reduction is expected to increase US exports of clock movements to Australia by 15% over the next year, benefiting manufacturers of high-value clock components.
Australian Demand for US Clock Movements Rises Amid Supply Chain Shifts
Australian clock manufacturers are increasingly sourcing mechanical clock movements valued over $5 each from the US due to supply chain disruptions in traditional Asian markets, strengthening trade ties.
2023-09-22
Impact: This shift could lead to a long-term increase in US market share in Australia for clock movements, though it may face challenges if Asian supply chains stabilize.
New Quality Standards for Clock Movements in US-Australia Trade
Both countries have agreed to harmonize quality certification processes for mechanical clock movements under HS 9109.90.60, facilitating smoother trade and reducing compliance costs for exporters.
2023-08-30
Impact: The harmonization is likely to streamline trade processes, reducing delays and costs for US exporters targeting the Australian market for grandfather, wall, and mantel clocks.
