When it comes to international trade, it is crucial to have a standardized system in place to classify and identify various products. This is where the Harmonized System (HS) code comes into play. Each product is assigned a unique HS code that helps in the identification and classification of goods for customs and statistical purposes.
One such HS code is 52063200, which is assigned to multiple or cabled cotton yarn. Let's delve deeper into the description and details of this specific HS code.
The product description for HS Code 52063200 is as follows:
This description provides a clear understanding of the type and characteristics of the cotton yarn falling under this HS code. It specifies the cotton content, fiber type, yarn size, and packaging details. This information is vital for importers, exporters, and customs authorities to accurately classify and process the product.
The bound or Most Favored Nation (MFN) duty rate for HS Code 52063200 is 9.2%. The MFN principle states that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This ensures fair and equal treatment for all countries involved in international trade.
Importers and exporters should take note of this duty rate, as it influences the cost of importing or exporting multiple or cabled cotton yarn under this HS code. It is essential to factor in this duty rate while calculating the overall landed cost of the product.
The quantity unit for HS Code 52063200 is kilograms (KG). This unit of measurement helps in determining the weight of the cotton yarn being imported or exported. It is crucial for accurate documentation and calculation of shipping costs.
Various countries have established special tariff preference programs that provide specific benefits or exemptions for certain goods. HS Code 52063200 may be eligible for such programs, depending on the trading partners involved. Here are the special tariff preference programs applicable to this HS code:
These programs offer either duty-free treatment or reduced duty rates for cotton yarn falling under HS Code 52063200. Importers and exporters should explore these programs to take advantage of cost-saving opportunities and enhance competitiveness in the international market.
HS Code 52063200 is relevant for both importing and exporting activities in the United States. Importers in the US may bring in multiple or cabled cotton yarn falling under this HS code, while exporters can ship these products to various destinations worldwide.
It is essential for importers and exporters to comply with the customs regulations and documentation requirements of the US. This includes accurately declaring the HS code, adhering to duty rates, and fulfilling any additional requirements imposed by customs authorities.
HS Code 52063200 identifies and classifies multiple or cabled cotton yarn. Understanding the product description, duty rates, tariff preference programs, and other relevant details associated with this HS code is crucial for successful international trade operations. Importers and exporters must stay informed about the specific requirements and benefits related to this HS code to optimize their business opportunities.