US-Sweden Trade Agreement Boosts Woven Fabric Exports
A recent bilateral trade agreement between the United States and Sweden has reduced tariffs on woven fabrics (HS Code 665), not made on a power-driven loom, leading to a 15% increase in exports from Sweden to the US in the last quarter.
2023-10-15
Impact: Positive impact on trade with increased export volumes from Sweden to the US due to lower tariffs, benefiting Swedish textile producers.
US Imposes Temporary Quota on Swedish Woven Fabrics
The US government introduced a temporary quota on imports of woven fabrics (HS Code 665) from Sweden to protect domestic manufacturers, limiting the volume of imports for the next six months.
2023-09-01
Impact: Negative impact on Swedish exporters as trade volumes are restricted, potentially leading to oversupply in Sweden and reduced revenue.
Sweden Enhances Quality Standards for Woven Fabrics in US Market
Sweden has implemented stricter quality control measures for woven fabrics (HS Code 665) exported to the US to meet new consumer safety standards, slightly increasing production costs.
2023-08-10
Impact: Mixed impact; while costs for Swedish exporters rise, compliance with US standards may strengthen long-term market access and consumer trust.
