When it comes to international trade, each product is classified under a specific code known as the Harmonized System (HS) code. These codes are used to standardize the classification of goods and facilitate smooth trade between countries. In this article, we will delve into the details of HS Code 51122030, which pertains to woven fabrics of combed wool/fine animal hair, mixed mainly or solely with man-made filaments, not elsewhere specified or included.
The product description of HS Code 51122030 clearly specifies that it includes woven fabrics made from combed wool or fine animal hair, along with man-made filaments. These fabrics may contain a mixture of these materials or be composed solely of man-made filaments. The specific composition may vary depending on the manufacturing process and intended use of the fabric.
When it comes to international trade, countries often impose import duties on certain goods to protect domestic industries or generate revenue. The bound or Most-Favored Nation (MFN) duty rate for HS Code 51122030 is 25%. This means that any country importing these fabrics will be subject to a 25% duty on the declared value of the goods. However, it's important to note that countries may have special tariff preference programs in place, which can lower or eliminate these duties for certain trading partners.
The quantity unit for HS Code 51122030 is square meters (M2). This unit is commonly used to measure the area of fabrics and provides a standardized metric for trade transactions.
Now, let's explore the special tariff preference programs that apply to HS Code 51122030. These programs provide preferential treatment to specific trading partners, reducing or eliminating import duties for the covered goods:
It's important for both importers and exporters to be aware of these special tariff preference programs, as they can significantly impact the cost of trade and competitiveness in the market.
HS Code 51122030 is relevant in both importing and exporting activities. Importing countries need to be familiar with the duty rates and special tariff preference programs applicable to this HS code. On the other hand, exporting countries need to ensure compliance with the specific requirements and standards set by importing countries for these fabrics.
HS Code 51122030 covers woven fabrics made from combed wool or fine animal hair, mixed mainly or solely with man-made filaments. It is an important code for international trade, and understanding its details, duty rates, and special tariff preference programs is crucial for businesses engaged in the import and export of these fabrics.