The United States Is Considering Revising The Rules Of Origin For Garments And Textiles From The US Korea Free Trade Agreement.
The United States has launched a new investigation into possible amendments to the rules of origin of certain garments and textiles for the new US Korea Free Trade Agreement (KORUS).
The revised version of the bilateral trade agreement between the two countries was signed in September 2018 and came into effect on January 1, 2019.
Although there was little change in textiles and garments in the latest agreement, the South Korean government requested additional textile items in the shortage list in October, including:
Special cotton yarn (HTS tax code 5206)
Viscose/Rayon staple fibers (HTS5504.10 and HTS5507.00)
The specific shuttle fabric (HTS5408) contains copper ammonium Rayon (HTS5403.39) and
Some garments (HTS6110), some accessories (HTS6117) and parts (HTS5108) containing cashmere yarns.
If approved, Korean clothing exporters can purchase these textile materials from all over the world and enjoy KORUS preferential tariff treatment.
The US International Trade Commission (USITC) is seeking whether the amendment will have an economic impact on US trade, US trade volume and domestic producers of the affected products under the conditions of the US Korea Free Trade Agreement (KORUS).
It is expected to make recommendations to the US Trade Representative Committee (USTR) by June 24th.
The US Trade Representative (USTR) asked for an investigation, "the free trade agreement between the United States and South Korea: suggestions on the revision of rules of origin for certain textiles and garments".
According to the British strategic sourcing tool, KORUS granted South Korean textiles and clothing, tourist commodities and footwear tax-free access to the US market.
However, in 2018, the total value of garments exported from Korea to the United States amounted to 222 million 800 thousand US dollars, down 2.3% from 2017, accounting for only 0.27% of the ready-made clothing market in the United States.
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