US-Australia Trade Agreement Boosts Textile Exports
A new bilateral trade agreement between the US and Australia has reduced tariffs on specific textile products, including single filament yarn of viscose rayon under HS Code 5403.31.00, facilitating smoother trade.
2023-10-15
Impact: This agreement is expected to increase exports of viscose rayon yarn from the US to Australia due to lower costs and improved market access.
Australian Demand for Viscose Rayon Yarn Surges
Australian textile manufacturers have reported a spike in demand for single filament yarn of viscose rayon, prompting increased imports from the US.
2023-09-20
Impact: US exporters may see a rise in orders, potentially strengthening trade ties and boosting revenue for this specific product category.
US Imposes Temporary Quota on Textile Exports to Australia
Due to domestic supply concerns, the US has introduced a temporary quota on certain textile exports, including viscose rayon yarn under HS Code 5403.31.00, to Australia.
2023-08-05
Impact: This quota may restrict the volume of exports to Australia in the short term, potentially causing supply chain disruptions for Australian importers.
