When it comes to international trade, it is essential to have a standardized system for classifying and identifying products. This is where HS (Harmonized System) codes come into play. HS codes are used globally to categorize products for customs and trade purposes, facilitating smooth and efficient international trade.
One such HS code is 52102920, which refers to bleached satin or twill weave fabrics of cotton. These fabrics are made up of less than 85% cotton by weight and are mixed mainly or solely with man-made fibers. Additionally, the fabric should not exceed a weight of 200 g/m2.
The HS code 52102920 provides a clear identification for customs authorities and traders, ensuring that the correct duties and taxes are applied to these specific types of fabrics. Understanding the details of this HS code is crucial for importers and exporters dealing with such products.
The product description for HS code 52102920 is "Bleached satin or twill weave fabrics of cotton, < 85% cotton by weight, mixed mainly/solely with man-made fibers, not more than 200 g/m2." This description outlines the specific characteristics and composition of the fabrics falling under this HS code.
Bleached satin or twill weave fabrics refer to a specific type of textile construction, characterized by a smooth and shiny surface (in the case of satin weave) or diagonal parallel ribs (in the case of twill weave). These fabrics are made primarily from cotton but may also contain man-made fibers, provided that cotton constitutes less than 85% of the fabric's weight. The fabric's weight should not exceed 200 grams per square meter.
It is important to note that the HS code 52102920 only applies to fabrics meeting these specific criteria. Fabrics with different compositions or characteristics will fall under different HS codes.
The bound / MFN (Most Favored Nation) duty rate for products classified under HS code 52102920 is 10.3%. The MFN principle states that every time 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 duty rate indicates the percentage of the declared value of the imported fabric that the importer will need to pay as a customs duty. It is important for traders to consider this duty rate when calculating the overall cost of importing or exporting fabrics under this HS code.
The quantity unit for fabrics classified under HS code 52102920 is square meters (M2). This means that the quantity of fabrics imported or exported will be measured and declared in square meters.
Using square meters as the quantity unit allows for accurate and standardized measurements, making it easier to determine the quantity of fabric being traded. This ensures transparency and consistency in international trade transactions.
Various countries have established special tariff preference programs to promote trade and economic cooperation. These programs offer preferential duty rates or duty-free treatment for specific products, including fabrics classified under HS code 52102920.
Here are some of the special tariff preference programs applicable to fabrics under HS code 52102920:
These special tariff preference programs enable importers and exporters to benefit from reduced or eliminated customs duties, making trade more cost-effective and stimulating international commerce.
When it comes to international trade, it is also essential to consider the specific states involved in importing or exporting goods. In the case of fabrics classified under HS code 52102920, the importing and exporting US states play a significant role.
The specific states involved in importing fabrics under HS code 52102920 into the United States may vary based on market demand and trade relationships. Similarly, the exporting US states for these fabrics depend on the production capacity and competitiveness of different states.
It is essential for traders to stay updated on the latest market trends and dynamics to identify potential importing and exporting opportunities for fabrics falling under HS code 52102920.
HS code 52102920 serves as a standardized classification for bleached satin or twill weave fabrics of cotton mixed with man-made fibers. Understanding the details of this HS code, including the product description, duty rates, quantity unit, and special tariff preference programs, is crucial for importers and exporters dealing with these fabrics.
By adhering to the requirements of HS code 52102920 and taking advantage of special tariff preference programs, traders can streamline their international trade operations, reduce costs, and enhance market competitiveness in the global textile industry.