US-Finland Trade Agreement on Fine Yarn Exports
A new bilateral trade agreement has been signed between the United States and Finland, focusing on the export of fine yarn under HS Code 5205.12, measuring less than 106.38 decitex but not less than 83.33 decitex. This agreement aims to streamline customs processes for these specific textile products.
2023-10-15
Impact: This agreement is expected to increase the export volume of fine yarn from Finland to the US by reducing administrative barriers and enhancing market access for Finnish producers.
US Imposes Temporary Quota on Finnish Yarn Imports
The US Department of Commerce announced a temporary quota on imports of fine yarn (HS Code 5205.12) from Finland due to a surge in imports affecting domestic producers. The quota applies to yarn measuring between 94 and 120 metric number.
2023-09-01
Impact: This quota may restrict Finnish yarn exports to the US in the short term, potentially leading to reduced trade volumes and prompting Finnish exporters to seek alternative markets.
Finland Boosts Production of Fine Yarn for US Market
Finnish textile manufacturers have ramped up production of fine yarn (HS Code 5205.12) to meet growing demand in the US market. Investments in technology have improved the quality of yarn in the 94 to 120 metric number range.
2023-08-10
Impact: Increased production capacity in Finland could lead to higher export volumes to the US, strengthening trade ties in the textile sector, provided no new trade barriers are introduced.
