US-Portugal Trade Agreement on Textile Filaments
A new bilateral trade agreement between the United States and Portugal has facilitated the export of fabrics weighing more than 215 grams per square meter with filament diameters of 7 to 13 microns (HS Code: 5407.XX). This agreement reduces tariffs by 5% on such goods.
2023-10-15
Impact: This reduction in tariffs is expected to increase US exports to Portugal by 10% annually for this specific textile category, fostering stronger trade ties.
Portugal Increases Demand for US Textile Products
Portugal's textile industry has reported a surge in demand for US-made fabrics with specific filament diameters (7 to 13 microns) due to their high quality and durability, leading to a 15% rise in imports over the past quarter.
2023-09-22
Impact: The increased demand is likely to boost US textile exports, particularly for products under HS Code 5407.XX, strengthening economic relations.
US Exporters Face Supply Chain Delays to Portugal
Supply chain disruptions have delayed shipments of heavy fabrics (over 215 gsm, filament diameter 7-13 microns) from the US to Portugal, affecting delivery timelines by up to three weeks.
2023-08-30
Impact: These delays may temporarily reduce trade volume and impact contractual obligations, potentially costing US exporters significant penalties.
