When it comes to international trade, it is important to have a proper classification system in place to identify and categorize different products. The Harmonized System (HS) Code is a globally recognized system that is used for this purpose. Each product is assigned a unique HS code, which allows customs authorities and traders to easily identify and classify goods for import and export.
One such HS Code is 52121510, which refers to other woven fabrics of cotton, containing 36% or more by weight of wool or fine hair, weighing not more than 200 g/m2, and printed. Let's take a closer look at this particular HS Code and explore its implications in international trade.
Firstly, let's break down the product description. "Other woven fabrics of cotton" refers to textiles made from cotton fibers that have been woven together. These fabrics contain at least 36% by weight of wool or fine hair, which adds texture and warmth to the material. The weight of these fabrics does not exceed 200 grams per square meter, making them relatively lightweight. Additionally, these fabrics are printed, meaning they have patterns or designs applied to them.
Now, let's discuss the duty rates associated with HS Code 52121510. The bound/MFN (Most Favored Nation) duty rate for this product is free. This means that whenever 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 among trading nations.
The quantity unit for HS Code 52121510 is square meters (M2). This is the standard unit used to measure the size or area of the fabric.
There are also special tariff preference programs in place for this HS Code. The following countries offer free tariff rates for imports of products classified under HS Code 52121510: Bahrain (BH), Canada (CA) under NAFTA (North American Free Trade Agreement), Chile (CL), Israel (IL), Jordan (JO), Mexico (MX) under NAFTA, Oman (OM), Panama (P), Peru (PE), and Singapore (SG). These countries have established special trade agreements or preferential treatment for these specific products, allowing for easier and more cost-effective importation.
In addition, Australia (AU) offers a special tariff rate of 3% for imports of products classified under HS Code 52121510. This rate is still relatively low, making it favorable for trade between countries.
Lastly, Morocco (MA) offers a special tariff rate of 0.7% for imports of products classified under HS Code 52121510. This rate is even lower than the 3% rate offered by Australia, making it an attractive option for importing countries.
Importing US states and exporting US states are not specified in the data provided.
HS Code 52121510 refers to other woven fabrics of cotton, containing 36% or more by weight of wool or fine hair, weighing not more than 200 g/m2, and printed. This HS Code is associated with free duty rates in several countries, including Bahrain, Canada, Chile, Israel, Jordan, Mexico, Oman, Panama, Peru, and Singapore. Australia offers a tariff rate of 3%, while Morocco offers a rate of 0.7%. Understanding and properly classifying HS codes is essential for international traders to navigate the complexities of import and export regulations.