When it comes to international trade, various codes and classifications are used to identify and categorize products. One such code is the HS Code, which stands for Harmonized System Code. In this educational article, we will delve into the details of HS Code 52084210, which represents plain weave certified hand-loomed fabrics of cotton.
The product description of HS Code 52084210 specifies that it refers to fabrics made of cotton, with a composition of 85% or more cotton by weight. These fabrics have a weight ranging from over 100 to less than 200 grams per square meter and are made of yarns of different colors.
Now, let's understand the significance of the HS Code in international trade. The HS Code is a standardized system used globally to classify and identify traded goods. It enables countries to have a common language when it comes to trade documentation, regulations, and tariffs. By using HS Codes, countries can easily identify the nature and characteristics of products being imported or exported.
HS Code 52084210 falls under the textile category, specifically cotton fabrics. This code helps customs authorities in different countries to easily identify and classify cotton fabrics of this particular type. It also helps in determining the appropriate customs duties and other trade-related regulations.
Speaking of customs duties, the bound/MFN (Most Favored Nation) duty rate for HS Code 52084210 is 3%. The MFN principle 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. This ensures fair and non-discriminatory treatment in international trade.
The quantity unit for HS Code 52084210 is measured in square meters (M2). This unit helps in determining the quantity or area of cotton fabrics being traded.
Now, let's explore the special tariff preference programs applicable to HS Code 52084210. These programs offer preferential trade terms, including reduced or zero customs duties, for eligible countries. Here are the details:
These special tariff preference programs aim to promote trade and economic development by providing favorable conditions for eligible countries.
In terms of importing and exporting HS Code 52084210, it is important to consider the regulations and requirements of both the importing and exporting countries. Various factors such as customs procedures, documentation, and compliance with trade regulations need to be taken into account to ensure smooth and efficient trade operations.
HS Code 52084210 represents plain weave certified hand-loomed fabrics of cotton. This HS Code plays a crucial role in international trade by providing a standardized classification system for this specific type of cotton fabric. It helps in determining customs duties, identifying the product, and facilitating trade documentation. Additionally, special tariff preference programs offer favorable trade terms for eligible countries, further promoting trade and economic growth.