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Saturday, July 13, 2024

India and China are among the top five countries that together supply 80% of PSF to the US

In the first quarter of this year, the United States imported polyester staple fibre (PSF) valued at $142.821 million under the HSN code 550320. Data shows that more than 80% of these imports originated from South Korea, Thailand, Vietnam, India, and China, according to reports from the US International Trade Commission (USITC).

The USITC is currently engaged in a review to assess the potential ramifications of lifting duty orders specifically on fine denier PSF from these aforementioned countries. This review is crucial as it aims to evaluate the impact on the domestic market, trade dynamics, and industry stakeholders involved in the production and distribution of PSF.

Fine denier PSF is a critical component in various industries including textiles, automotive, and home furnishings, making it a significant commodity in US trade relations. The outcome of this review by the USITC could potentially influence future trade policies and strategies concerning PSF imports into the United States.

Stakeholders, including manufacturers, importers, and trade associations, are closely monitoring these developments, as any changes in duty orders could have substantial implications on supply chains, pricing, and market competition within the PSF sector.

The USITC’s findings and recommendations from this review are expected to provide valuable insights into the ongoing trade dynamics surrounding PSF imports, impacting both domestic and international stakeholders in the industry.

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