When it comes to international trade, having a standardized system for classifying goods is essential. This is where the Harmonized System (HS) code comes into play. Each product is assigned a unique HS code, which helps customs authorities identify and categorize goods for import and export purposes. In this article, we will delve into the details of HS Code 52082140, which refers to woven cotton fabric.
HS Code 52082140 specifically pertains to woven cotton fabric that contains at least 85% cotton by weight. It is characterized by a plain weave and has a weight not exceeding 100 grams per square meter (g/m2). Additionally, this fabric is bleached and falls under the category of numbers 43-68, as defined by the HS classification system.
Plain weave refers to a simple interlacing pattern where the weft yarn passes over and under each warp yarn alternately, creating a balanced and strong fabric structure. This type of fabric is commonly used in various applications, including clothing, home textiles, and industrial uses.
The bound or Most Favored Nation (MFN) duty rate for HS Code 52082140 is 10.2%. The MFN principle dictates that whenever a country reduces trade barriers or opens up its market, it must provide the same treatment to all its trading partners for the same goods or services. This ensures fair and non-discriminatory trade practices among nations.
It is important for importers and exporters to be aware of the applicable duty rates to calculate the cost of their transactions accurately. In the case of woven cotton fabric under HS Code 52082140, a 10.2% duty rate will be levied on the declared value of the goods during customs clearance.
The quantity unit used for HS Code 52082140 is square meters (M2). This unit of measurement allows for easy calculation and comparison of the fabric's area. It is crucial to accurately determine the quantity of woven cotton fabric being imported or exported to ensure compliance with trade regulations and facilitate seamless customs procedures.
Several countries have implemented special tariff preference programs that provide favorable treatment for imports of woven cotton fabric under HS Code 52082140. These programs aim to promote trade and economic cooperation between nations. Here are some notable examples:
These special tariff preference programs can significantly impact the cost competitiveness of woven cotton fabric imports, making them more attractive for businesses operating in the respective countries.
HS Code 52082140 is relevant for both importing and exporting woven cotton fabric to and from the United States. As a major player in the global textile industry, the US engages in significant trade activities related to this product.
When importing woven cotton fabric under HS Code 52082140 into the US, importers need to comply with the relevant customs regulations and procedures. This includes accurately declaring the fabric's HS code, quantity, value, and origin. Failure to comply with these requirements may lead to delays, penalties, or even the denial of entry for the goods.
On the other hand, US exporters of woven cotton fabric under HS Code 52082140 must adhere to the export regulations and documentation requirements of the destination country. This ensures smooth customs clearance and facilitates trade between the US and its trading partners.
HS Code 52082140 plays a vital role in the classification and trade of woven cotton fabric. Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS code is essential for importers, exporters, and industry professionals. By staying informed and compliant with the relevant trade regulations, businesses can optimize their international trade operations and seize opportunities in the global textile market.