The HS Code 52062400 refers to single cotton yarn that contains less than 85 percent cotton by weight. It specifically pertains to combed fibers with a fineness of over 52 but not exceeding 80 nm. This yarn is not put up for retail sale and is usually measured in kilograms (KG).
When importing goods with this HS code, it is essential to understand the bound or Most Favored Nation (MFN) duty rate associated with it. The current rate stands at 9.2%. The concept of MFN states 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.
Special tariff preference programs are also available for this product under specific conditions. The following countries offer a duty-free treatment for the import of single cotton yarn with HS Code 52062400: Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, Singapore. On the other hand, Morocco offers a special rate of 0.9% for the import of this yarn.
When it comes to the importing and exporting of this product, various US states engage in trade. The specific states involved in importing this product from other countries are not mentioned in the given data. However, it is crucial for businesses and traders to consider the exporting US states when dealing with HS Code 52062400.
understanding the HS Code 52062400 is essential for businesses and traders dealing with single cotton yarn imports. The code specifies the product description, duty rates, quantity unit, and special tariff preference programs available. By familiarizing themselves with this code, importers and exporters can navigate international trade regulations more effectively.