A new trade agreement between the United States and Mongolia has facilitated an increase in imports of 'Not made on a power-driven loom' textiles (HS Code 369) to the US, with a focus on traditional handwoven products.
2023-10-15
Impact: This agreement is expected to increase bilateral trade volume in this category by 15% over the next year, benefiting Mongolian artisans and US consumers seeking authentic handmade goods.
US Importers Seek Mongolian Handwoven Textiles Amid Rising Demand
US retailers have reported a growing demand for handwoven Mongolian textiles under HS Code 369, driven by consumer interest in sustainable and culturally unique products.
2023-09-20
Impact: This trend could lead to a surge in imports from Mongolia, potentially strengthening trade ties, though supply chain constraints in Mongolia may limit short-term growth.
Mongolia Promotes Handwoven Textile Exports at US Trade Fair
Mongolian exporters showcased 'Not made on a power-driven loom' textiles (HS Code 369) at a major US trade fair, securing initial contracts with American distributors.
2023-08-05
Impact: This exposure is likely to result in a modest increase in exports to the US, fostering niche market growth for Mongolian textiles in the coming months.
Policy Updates
US Tariff Reduction on Mongolian Textiles
The US government has announced a temporary tariff reduction on imports of handwoven textiles under HS Code 369 from Mongolia as part of a broader initiative to support cultural trade with smaller economies.
Date: 2023-10-01
Mongolia Introduces Export Incentives for Handwoven Goods
The Mongolian government has implemented subsidies and tax breaks for exporters of 'Not made on a power-driven loom' products (HS Code 369) to encourage trade with key markets like the United States.
