HS Code 51123020: Tapestry & Upholstery Fabrics of Combed Wool/Fine Animal Hair
Tapestry and upholstery fabrics are essential components of the textile industry. They are used for various purposes, including home furnishings, upholstery, and even fashion. The HS Code 51123020 specifically refers to tapestry and upholstery fabrics made of combed wool or fine animal hair, mixed primarily or solely with man-made staple fibers, with a weight not exceeding 140 g/m2.
The HS Code system is an internationally recognized classification system used to classify goods for customs and trade purposes. It helps in the standardization and identification of products, ensuring smooth international trade. The HS Code 51123020 is used to classify and identify tapestry and upholstery fabrics falling under the aforementioned description.
Bound / MFN Duty Rate:
The bound / MFN (Most Favored Nation) duty rate for HS Code 51123020 is 7%. The MFN principle dictates that whenever 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 ensures fair and equal treatment for all trading partners.
Quantity Unit:
The quantity unit for HS Code 51123020 is square meters (m2). This unit is used to measure the area of tapestry and upholstery fabrics imported or exported under this HS Code.
Special Tariff Preference Programs:
Several countries offer special tariff preference programs for tapestry and upholstery fabrics falling under HS Code 51123020. These programs provide preferential duty rates or duty-free treatment for eligible imports. The following is a list of the special tariff preference programs applicable to this HS Code:
- Free (BH, CA, CL, IL, JO, MX, P, PE, SG)
- Bahrain Special Rate
- NAFTA for Canada (duty-free treatment)
- Chile Special Rate
- Israel Special Rate (duty-free treatment)
- Jordan Special Rate
- NAFTA for Mexico
- Dominican Republic-Central American Special Rate (DR-CAFTA)
- Peru Special Rate
- Singapore Special Rate
- 3% (AU)
- Australia Special Rate
- 0.7% (MA)
- Morocco Special Rate
- 5.6% (OM)
- Oman Special Rate
These special tariff preference programs aim to promote trade and economic cooperation between countries by providing incentives for importing and exporting tapestry and upholstery fabrics.
Importing and Exporting US States:
HS Code 51123020 applies to tapestry and upholstery fabrics imported and exported to and from various US states. The specific states involved in the import and export of goods under this HS Code may vary depending on trade dynamics and market demand.
HS Code 51123020 plays a crucial role in the classification and identification of tapestry and upholstery fabrics made of combed wool or fine animal hair, mixed with man-made staple fibers. It helps facilitate international trade by providing a standardized system for customs and trade purposes. Additionally, the special tariff preference programs associated with this HS Code offer various benefits and incentives for importers and exporters, contributing to the growth and development of the textile industry.
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