The HS Code 52071000 refers to cotton yarn that is put up for retail sale and contains 85 percent or more cotton by weight. This code is essential for international trade as it helps in the classification and identification of goods. In this article, we will explore the various aspects related to this HS Code, including its description, duty rates, quantity unit, special tariff preference programs, and the importing and exporting US states.
The product described by HS Code 52071000 is cotton yarn, excluding sewing thread, that contains at least 85 percent cotton by weight. This yarn is specifically packaged for retail sale, making it readily available for consumers. Cotton yarn is widely used in the textile industry for the production of various fabrics and garments.
The bound / MFN (Most Favored Nation) duty rate for HS Code 52071000 is free. This means that when a country lowers a trade barrier or opens up a market, it must apply the same duty-free treatment to cotton yarn from all its trading partners. This facilitates fair and equal trade opportunities for all countries involved.
The quantity unit for HS Code 52071000 is kilograms (KG). This unit of measurement simplifies the process of quantifying and tracking the amount of cotton yarn being imported or exported. Kilograms provide a standardized unit that is universally understood and accepted in the international trade community.
Under HS Code 52071000, several countries have special tariff preference programs in place. These programs offer preferential treatment or duty-free access to cotton yarn imports from specific countries. The following countries have special tariff preferences for this HS Code:
These special tariff preference programs aim to promote trade and economic cooperation between countries by providing incentives for importing cotton yarn from specific trading partners.
As for the importing and exporting of cotton yarn under HS Code 52071000, the specific US states involved may vary. The importers can be located in any state within the United States, depending on demand and supply factors. Similarly, the exporters can be situated in different states, depending on the production capacity and distribution networks.
Some of the major cotton-producing states in the US include Texas, California, Arizona, Mississippi, and Georgia. These states have a significant role in the cotton industry and may have a higher likelihood of engaging in the import/export of cotton yarn.
The HS Code 52071000 plays a crucial role in international trade, specifically for cotton yarn put up for retail sale. It helps in the classification, identification, and regulation of this product, ensuring fair trade practices. The duty rate for this HS Code is free, and various special tariff preference programs exist to facilitate trade between specific countries. The quantity unit is measured in kilograms, providing a standardized measurement for tracking imports and exports. Overall, understanding and complying with the regulations associated with HS Code 52071000 is essential for businesses engaged in the import/export of cotton yarn.