When it comes to international trade, it is essential to have a system in place that classifies and categorizes products for smooth transactions. The Harmonized System (HS) Code is a standardized international system for classifying products traded across borders. In this article, we will explore the HS Code 52094130, which refers to plain weave certified hand-loomed fabrics of cotton.
The specific product description for HS Code 52094130 is as follows: plain weave certified hand-loomed fabrics of cotton, containing 85% or more cotton by weight, weighing over 200 g/m2, of yarns of different colors. This means that the fabric should be primarily made of cotton, with a minimum composition of 85% by weight. Additionally, the fabric should have a weight of over 200 grams per square meter and be woven using different colored yarns.
Understanding the HS Code is crucial for importers and exporters as it helps in determining the applicable customs duties and tariffs for specific products. For HS Code 52094130, the bound or most-favored-nation (MFN) duty rate is set at 3%. This means 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 promotes fair and equal treatment in international trade.
The quantity unit for HS Code 52094130 is square meters (M2). This unit is used to measure the area of the fabric being imported or exported. It provides a standardized measurement for easy calculation and comparison.
There are also special tariff preference programs associated with HS Code 52094130. These programs offer reduced or duty-free rates for specific countries. The following countries enjoy free tariff rates for this HS Code: Australia, Bahrain, Canada, Chile, European Union (EU), Israel, Japan, Jordan, Mexico, Oman, Panama, Peru, Singapore. These countries are eligible for duty-free treatment under various programs such as the Generalized System of Preferences (GSP), NAFTA, Caribbean Basin Initiative (CBI), Andean Trade Preference Act (ATPA), and more.
In addition to the countries with duty-free treatment, there is one country that enjoys a special rate of 0.3% for HS Code 52094130, which is Morocco. This means that imports of this product from Morocco will attract a lower duty rate compared to the MFN rate of 3%.
When it comes to importing goods with HS Code 52094130 to the United States, it is important to consider the regulations and requirements of the specific states involved. Different states may have their own rules and regulations regarding the importation of textiles and fabrics. Exporting states should also be aware of any specific requirements imposed by the importing states.
HS Code 52094130 refers to plain weave certified hand-loomed fabrics of cotton. It is important for importers and exporters to understand the specific requirements and tariff rates associated with this HS Code to ensure smooth and compliant international trade. By utilizing special tariff preference programs, importers can take advantage of reduced or duty-free rates, promoting economic growth and international cooperation.