Wool is a versatile and widely used natural fiber that has been in demand for centuries. With its unique properties and various applications, it is no surprise that wool exports play a significant role in the global trade market. In this article, we will delve into the details of HS Code 51011150, which covers a specific type of wool and its trade regulations.
The HS Code 51011150 refers to wool that is greasy, shorn, and not carded or combed. It excludes unimproved wool and specifically pertains to wool that is finer than 44s but not 46s. This code helps in categorizing and classifying wool exports, ensuring transparency and clarity in international trade.
The bound or most-favored-nation (MFN) duty rate for HS Code 51011150 is free. This means that every time a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This encourages fair and equal trade opportunities for all countries involved.
The quantity unit for HS Code 51011150 is measured in clean yield kilograms (CYK). This unit refers to the weight of wool after it has been cleaned and processed, excluding any impurities or unwanted materials. CYK helps in accurately measuring and calculating the amount of wool being traded.
HS Code 51011150 is eligible for various special tariff preference programs that offer reduced or duty-free rates for certain countries. These programs aim to promote economic growth, strengthen trade relations, and facilitate the movement of goods between nations. The following countries have special tariff rates for this HS Code:
HS Code 51011150 is not limited to a specific set of importing or exporting US states. It can be traded between any states within the United States, allowing for nationwide distribution and utilization of this specific type of wool.
HS Code 51011150 plays a crucial role in the international trade of wool. It accurately identifies and categorizes wool that is greasy, shorn, and not carded or combed. The bound or MFN duty rate for this code is free, promoting fairness and equal trade opportunities. Furthermore, various special tariff preference programs offer reduced or duty-free rates for this HS Code, benefiting specific countries and strengthening trade relations. Understanding the details of HS Code 51011150 is essential for anyone involved in the wool export industry, ensuring compliance with trade regulations and maximizing trade benefits.