A new bilateral trade agreement between the US and Austria has reduced tariffs on woven fabrics (HS Code 369), not made on power-driven looms, encouraging increased exports from Austria to the US.
2023-10-15
Impact: This agreement is expected to increase Austrian exports of woven fabrics to the US by 15% over the next year, strengthening trade ties.
US Importers Show Growing Interest in Austrian Hand-Woven Fabrics
US textile importers have reported a surge in demand for Austrian hand-woven fabrics (HS Code 369), citing their unique craftsmanship and quality as key factors.
2023-09-22
Impact: This trend may lead to a 10-20% rise in import volumes, benefiting Austrian artisans and small-scale producers.
Recent global shipping delays have affected the timely delivery of woven fabrics (HS Code 369) from Austria to the US, causing minor disruptions in supply chains.
2023-08-30
Impact: Temporary delays may result in a 5% reduction in trade volume for Q3 2023, with recovery expected by Q4.
Policy Updates
US Tariff Reduction on Austrian Woven Fabrics
The US has implemented a temporary tariff reduction of 3% on imports of woven fabrics (HS Code 369) from Austria under the new trade facilitation agreement, effective until December 2024.
Date: 2023-10-01
Austria Updates Export Compliance for Woven Goods
Austria has introduced stricter documentation requirements for the export of hand-woven fabrics (HS Code 369) to ensure compliance with international trade standards, impacting shipments to the US.
