HS Code 50071030 refers to woven fabrics of noil silk, containing 85 percent or more by weight of silk or silk waste. In this article, we will delve into the details of this HS code and explore its implications in international trade.
Woven fabrics of noil silk are textiles made from silk or silk waste that contain at least 85 percent of silk fibers. Noil silk is derived from the short fibers, cocoon waste, or silk residue left after the processing of raw silk. These fabrics have a unique texture and are known for their durability, making them suitable for various applications in the textile industry.
The bound or most-favored-nation (MFN) duty rate for HS Code 50071030 is 0.8%. The MFN principle states that whenever a country reduces a trade barrier or opens up its market, it must do so for the same goods or services from all its trading partners. This ensures fair and non-discriminatory treatment in international trade.
The quantity unit for HS Code 50071030 is square meters (M2). This unit is used to measure the area of the woven fabrics of noil silk being imported or exported.
Several special tariff preference programs provide favorable treatment to imports of woven fabrics of noil silk under HS Code 50071030. These programs include:
HS Code 50071030 is relevant for trade between various importing and exporting US states. The specific states involved in the import and export of woven fabrics of noil silk may vary over time and depend on various factors such as production capabilities, demand, and trade agreements.
It is important for businesses and individuals involved in the trade of woven fabrics of noil silk to familiarize themselves with the applicable HS code, duty rates, and special tariff preference programs. This knowledge can help optimize trade operations, ensure compliance with regulations, and take advantage of favorable trade conditions.