When it comes to international trade, it is important to have a proper classification system in place to ensure smooth transactions and effective regulations. This is where the Harmonized System (HS) code comes into play. HS Code 51091090 specifically refers to yarn made of wool or fine animal hair, which is put up for retail sale.
Yarn is an essential component in the textile industry, and it is used for various purposes such as knitting, weaving, and sewing. The HS code helps in identifying and categorizing this particular type of yarn, making it easier for customs authorities and traders to handle and track these goods.
The product description for HS Code 51091090 is as follows: Yarn of wool nesoi, or fine animal hair nesoi, over 85% or more of that wool/hair, put up for retail sale, nesoi. This means that the yarn included in this HS code can be made from either wool or fine animal hair, and it should contain over 85% of wool or hair content. Additionally, the yarn should be packaged and labeled for retail sale.
The bound or Most Favored Nation (MFN) duty rate for HS Code 51091090 is 6%. The MFN duty rate is applied by a country whenever it lowers a trade barrier or opens up a market. It ensures that the same duty rate is applied to the same goods or services from all trading partners of that country. This allows for fair and equal treatment in international trade.
The quantity unit for HS Code 51091090 is kilograms (KG). This means that the measurement and pricing of the yarn under this HS code is based on weight in kilograms.
Several countries have special tariff preference programs for goods classified under HS Code 51091090. These programs offer reduced or zero tariffs to promote trade and economic cooperation between countries. The following countries provide special tariff rates for this HS code:
Additionally, Morocco provides a special rate of 0.6% for goods classified under this HS code.
HS Code 51091090 is applicable for trade between various importing and exporting states in the United States. The specific states involved in importing and exporting goods under this HS code may vary depending on market demand and trade agreements. It is important for traders and businesses to be aware of the specific regulations and requirements of these states when dealing with yarn classified under this HS code.
HS Code 51091090 plays a crucial role in classifying and regulating the trade of yarn made of wool or fine animal hair, which is put up for retail sale. Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS code is essential for businesses and traders engaged in international trade.