Wool, a versatile and widely used natural fiber, plays a crucial role in the textile industry. To ensure smooth trade and to facilitate international commerce, the Harmonized System (HS) provides a standardized coding system for goods. In this article, we will delve into the details of HS Code 51011940, which pertains to wool that is finer than 40s but not 44s, greasy, not shorn, not carded or combed, and not intended for special uses.
HS Code 51011940 specifically refers to wool that falls within certain parameters. It excludes unimproved wool and encompasses wool that is finer than 40s but not 44s. The term "finer than 40s" refers to the thickness and quality of the individual wool fibers. The greasy nature of the wool indicates that it has not undergone any cleaning or washing processes. Additionally, this type of wool is not shorn, carded, or combed, and is not intended for special uses.
The bound or Most-Favored-Nation (MFN) duty rate associated with HS Code 51011940 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 type of goods or services from all its trading partners. The objective of this policy is to promote fair and equal trade opportunities for all countries involved.
When dealing with wool under HS Code 51011940, the quantity unit used is clean yield kilograms (CYK). This unit of measurement refers to the weight of wool after it has been cleaned and processed, excluding any impurities or waste material.
HS Code 51011940 is eligible for special tariff preference programs in several countries. These programs offer preferential treatment, such as duty-free imports, for goods falling under this HS code. The countries that provide such benefits include Australia (Special Rate), Bahrain (Special Rate), Canada under NAFTA (duty-free treatment), Chile (Special Rate), the Caribbean Basin Initiative (CBI), Israel (Special Rate with duty-free treatment), the Andean Trade Preference Act (ATPA), Jordan (Special Rate), Morocco (Special Rate), Mexico under NAFTA (duty-free treatment), Oman (Special Rate), the Dominican Republic-Central American Special Rate (DR-CAFTA), Peru (Special Rate), and Singapore (Special Rate).
HS Code 51011940 has implications for both importing and exporting US states. Importing states refer to those within the United States that receive goods falling under this HS code from other countries. Exporting states, on the other hand, are those within the United States that send goods classified under this HS code to other countries.
Understanding the HS code system and its specific codes, such as HS Code 51011940, is crucial for effective international trade. It allows for standardized classification and enables countries to implement fair trade practices. With its comprehensive specifications and coverage, HS Code 51011940 ensures transparency and clarity in the wool trade sector.