US-Australia Trade Agreement Boosts Textile Exports
A recent amendment to the US-Australia Free Trade Agreement (AUSFTA) has reduced tariffs on specific textile categories, including fabrics under HS Code 5208.52 with thread counts over 69 but not over 142 in the warp and over 31 but not over 71 in the filling. This has led to a 12% increase in Australian exports to the US in this category.
2023-10-15
Impact: Positive impact on Australian textile exporters due to reduced tariffs, potentially increasing market share in the US.
US Imposes Temporary Quota on Australian Textile Imports
The US Department of Commerce announced a temporary quota on certain woven cotton fabrics (HS Code 5208.52) from Australia to protect domestic manufacturers, affecting fabrics with the specified thread counts. This follows a surge in imports over the past year.
2023-09-01
Impact: Negative impact on Australian exporters as quotas may limit volume of trade, potentially increasing costs and reducing competitiveness.
Australia Seeks Review of US Textile Import Regulations
The Australian government has initiated discussions with the US Trade Representative to review import regulations on cotton fabrics under HS Code 5208.52, citing unfair barriers to trade for products with thread counts in the specified range.
2023-08-20
Impact: Potential for improved trade conditions if barriers are reduced, though uncertainty remains during negotiations.
