US-Greece Trade Agreement Boosts Textile Exports
A new bilateral trade agreement between the US and Greece has reduced tariffs on specific textile categories, including fabrics measuring less than 77 cm in width (HS Code 619). This has led to a 15% increase in exports from Greece to the US in this category.
2023-10-15
Impact: Positive impact on Greek textile exporters, with reduced costs and increased market access in the US; potential growth in US imports of these fabrics.
US Imposes Temporary Quota on Greek Textile Imports
Due to a surge in imports of specific textile products, including those under HS Code 619, the US has imposed a temporary quota on Greek fabrics to protect domestic manufacturers. The quota limits imports to 500,000 square meters annually.
2023-09-01
Impact: Negative impact on Greek exporters as the quota restricts volume; US domestic textile producers may benefit from reduced competition.
Greece Enhances Quality Standards for Textile Exports to US
Greece has introduced stricter quality control measures for textile exports, including fabrics under HS Code 619, to meet US market requirements. This follows complaints about inconsistent thread counts in shipments.
2023-08-20
Impact: Short-term delays in exports due to compliance checks, but long-term potential for stronger trust and demand in the US market.