US-Belgium Trade Agreement on Rubber and Plastic Footwear
A new bilateral trade agreement between the United States and Belgium has reduced tariffs on footwear with uppers of over 90% rubber or plastics (HS Code: 6402.99). This agreement aims to boost exports from Belgium to the US, focusing on specialized industrial footwear.
2023-10-15
Impact: Expected to increase Belgian exports to the US by 15% in this category, benefiting manufacturers while potentially increasing competition for US domestic producers.
US Imposes Temporary Quota on Belgian Footwear Imports
The US Department of Commerce introduced a temporary quota on imports of specific footwear (HS Code: 6402.99) from Belgium due to a surge in imports disrupting local markets. The quota will be reviewed in six months.
2023-09-01
Impact: This quota may limit Belgian exporters’ access to the US market in the short term, potentially causing a backlog of inventory and reduced revenue for Belgian firms.
Belgium Enhances Quality Standards for Exported Footwear
Belgium updated its export quality standards for footwear with rubber or plastic uppers (HS Code: 6402.99), aligning with US safety regulations to facilitate smoother trade relations and reduce rejection rates at US ports.
2023-08-20
Impact: Likely to streamline customs processes and reduce trade friction, potentially increasing the volume of compliant footwear exports to the US.