Cotton sewing thread is a versatile and essential product used in various industries, including textiles, fashion, and crafts. It is commonly used for sewing garments, upholstery, and other fabric-based items. HS Code 52042000 specifically refers to cotton sewing thread that is put up for retail sale.
When it comes to international trade, understanding the HS code and its associated regulations is crucial. HS codes are numerical codes used to classify products for customs and statistical purposes. They provide a standardized way of identifying and categorizing goods traded globally.
The HS code 52042000 is used to classify cotton sewing thread that is packaged and intended for sale directly to consumers. This code ensures that the product is properly recognized and regulated during import and export processes.
The bound or most-favored-nation (MFN) duty rate for HS code 52042000 is 4.4%. The MFN duty rate is the default tariff applied to imports unless a specific trade agreement or preference program reduces or eliminates the duty. It ensures that all trading partners are treated equally in terms of trade barriers and market access.
It is important for traders and importers to be aware of the bound duty rate as it affects the cost of importing cotton sewing thread. However, certain special tariff preference programs can provide exemptions or reduced rates for specific countries.
HS code 52042000 may be eligible for various special tariff preference programs, which can significantly impact the duty rate for importing countries. Here are some notable programs and their specific rates:
These programs allow eligible countries to enjoy duty-free or reduced duty rates when importing cotton sewing thread under HS code 52042000. Traders and importers should check the specific requirements and conditions of each program to take advantage of the preferential rates.
For example, under the NAFTA agreement, Canada and Mexico can import cotton sewing thread duty-free. Similarly, countries like Australia, Bahrain, Chile, Israel, Jordan, Oman, Peru, and Singapore also offer duty-free treatment for this product.
On the other hand, Morocco enjoys a special rate of 0.4% for importing cotton sewing thread. This reduced rate can be beneficial for both importers and exporters involved in trade between Morocco and other countries.
HS code 52042000 is relevant for both importing and exporting cotton sewing thread in the United States. The following states are involved in the import and export of this product:
These states play a significant role in the cotton sewing thread trade within the United States. Traders and businesses located in these states should be familiar with the regulations and requirements associated with importing and exporting cotton sewing thread under HS code 52042000.
HS code 52042000 is used to classify cotton sewing thread that is put up for retail sale. Understanding the HS code, bound duty rate, and special tariff preference programs is crucial for international traders and importers. By being aware of these details, businesses can optimize their trade processes and potentially benefit from reduced or duty-free rates when importing or exporting cotton sewing thread.