The HS Code 51011120 refers to unimproved wool and other wool that is not finer than 40s, greasy, shorn, and not carded or combed. This code is used to classify and categorize this specific type of wool for international trade purposes.
When it comes to trade barriers and market openings, the MFN (Most Favored Nation) duty rate for HS Code 51011120 is free. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This enables fair and equal trade opportunities for all countries.
The quantity unit for HS Code 51011120 is clean yield kilograms (CYK). This unit of measurement is used to determine the amount of usable wool obtained after removing impurities and other unwanted substances from the raw material.
There are also special tariff preference programs in place for HS Code 51011120. The countries that offer free or preferential tariff rates for this code include Australia (Special Rate), Bahrain (Special Rate), Canada (NAFTA - duty-free treatment), Chile (Special Rate), certain countries or products excluded from CBI (Caribbean Basin Initiative) eligibility, Israel (Special Rate - duty-free treatment), Jordan (Special Rate), Morocco (Special Rate), Mexico (NAFTA - duty-free treatment), Oman (Special Rate), Dominican Republic-Central American (DR-CAFTA) (Special Rate), Peru (Special Rate), and Singapore (Special Rate).
When importing HS Code 51011120, it is important to consider the regulations and requirements of the exporting US state. Similarly, when exporting this code, it is necessary to comply with the importing US state regulations. These regulations may vary from state to state and can impact the processes and documentation needed for successful trade.
HS Code 51011120 pertains to unimproved wool and other wool not finer than 40s, greasy, shorn, not carded or combed, and not for special uses. It is important to understand the MFN duty rate, special tariff preference programs, and quantity unit associated with this code when engaging in international trade. Additionally, being aware of the regulations set by the exporting and importing US states is crucial for smooth trade operations.