Indonesia has exempted fabrics made in Vietnam and India and synthetic yarn and curtains made in South Korea and Hong Kong from new import tariffs imposed on some textile products from May this year till November 2022, according to the country’s finance ministry. The move aims at protecting the domestic upstream industry from a recent surge in imports.
In 2019, the Indonesian government imposed temporary additional duties on imports of textiles and textile products up to 67.7 per cent, according to Vietnamese media reports.
Moody’s Investors Service had earlier warned that the US-China trade tensions could lead to an influx of Chinese yarn, fabrics and garments into Indonesia, potentially disrupting the stable levels of demand and supply in the country.
Author Profile
Latest Post
Apparel, Fashion & RetailSeptember 26, 2023Attracting 14,895 trade visitors, Gartex Texprocess India spins a new success story
Apparel, Fashion & RetailSeptember 26, 2023EUs apparel import from major suppliers, January-July 2023.
Fibres and YarnsSeptember 26, 2023Lenzing to increase production of responsible viscose in Asia-Pacific for LENZING™ ECOVERO™ & VEOCEL™
COTTON PRICESeptember 26, 2023U.S. FUTURES DAILY COTTON MARKET – 22TH SEPTEMBER 2023