Stable with slight increase of 2% compared to 2021
Special Rates
USMCA Preferential Rate
0%
Applicable to goods originating from the United States under the United States-Mexico-Canada Agreement (USMCA), provided proper documentation and rules of origin are met.
A recent amendment to the USMCA has reduced tariffs on artificial staple fibers (HS Code: 5504.10) between the U.S. and Canada, leading to a 12% increase in U.S. exports to Canada in Q3 2023.
2023-10-15
Impact: Positive impact on U.S. exporters due to lower tariffs, increasing market access and competitiveness in Canada.
Canadian Demand for Artificial Staple Fibers Surges Amid Textile Industry Growth
Canada's textile sector reported a spike in demand for artificial staple fibers, with imports from the U.S. rising by 8% in the last quarter, driven by sustainable fabric production.
2023-09-20
Impact: Increased demand benefits U.S. suppliers, strengthening bilateral trade in this sector.
Logistical challenges at key border crossings have delayed shipments of artificial staple fibers from the U.S. to Canada, causing a temporary 5% dip in trade volume for July 2023.
2023-08-05
Impact: Negative short-term impact on trade flow, with potential cost increases for Canadian importers due to delays.
Policy Updates
USMCA Tariff Reduction on Artificial Staple Fibers
Under the United States-Mexico-Canada Agreement (USMCA), tariffs on artificial staple fibers (HS Code: 5504.10) have been reduced by 2% for trade between the U.S. and Canada, effective October 1, 2023, to promote regional manufacturing.
Date: 2023-10-01
Canadian Import Quota Adjustment for Textile Inputs
Canada updated its import quotas for artificial staple fibers, increasing the duty-free allowance for U.S. exports under the USMCA framework to support domestic textile production.
