A recent bilateral trade agreement between the United States and Greece has reduced tariffs on absorbent, reflecting, and non-reflecting layer products (HS Code: 5911.90), leading to a 15% increase in US exports to Greece in the last quarter.
2023-10-15
Impact: This agreement is expected to strengthen US-Greece trade ties, with a projected annual growth of 10% in this product category.
Greece Increases Demand for US Non-Reflecting Layers
Greek industries, particularly in construction and manufacturing, have ramped up imports of US-made non-reflecting layer materials due to their superior quality and competitive pricing.
2023-09-22
Impact: US exporters are likely to see sustained demand, with potential for market expansion in the Mediterranean region.
Global shipping delays have temporarily impacted the delivery of absorbent layer products from the US to Greece, causing a 5% drop in trade volume for the month of August.
2023-08-30
Impact: Trade is expected to recover as supply chain issues are resolved, though short-term costs may rise for Greek importers.
Policy Updates
US-Greece Tariff Reduction on HS Code 5911.90
The US and Greece have agreed to lower tariffs by 3% on absorbent, reflecting, and non-reflecting layer products under HS Code 5911.90, aiming to facilitate smoother trade and reduce costs for businesses on both sides.
