When it comes to international trade, the Harmonized System (HS) codes play a crucial role in classifying products for import and export purposes. One such code is HS Code 52122210, which refers to other woven fabrics of cotton that contain 36% or more by weight of wool or fine hair. These fabrics are also required to weigh more than 200 grams per square meter and must be bleached.
The HS Code 52122210 helps customs authorities worldwide to identify and categorize these specific types of textile products. It ensures that the correct duties and taxes are levied on the goods as they cross international borders. Additionally, the HS Code allows for the implementation of special tariff preference programs, which can impact the trade and economic relationships between countries.
The bound or Most Favored Nation (MFN) duty rate for HS Code 52122210 is 16.5%. The MFN duty rate refers to the rate applied to a product when a country lowers a trade barrier or opens up a market. It requires that the same goods or services from all trading partners be subject to the same duty rate. This principle promotes fair and equal treatment in international trade.
The quantity unit for HS Code 52122210 is measured in square meters (M2). This unit helps in accurately determining the quantity of fabric being imported or exported, making it easier for customs officials to calculate the appropriate duties and taxes applicable.
Furthermore, the HS Code 52122210 is eligible for special tariff preference programs in various countries. For example, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, and Singapore offer duty-free treatment for imports of fabrics falling under this HS code. Australia imposes a preferential rate of 3%, while Morocco imposes a rate of 1.8%.
When it comes to importing HS Code 52122210 into the United States, it is important to consider the regulations and requirements of individual states. Different states may have specific rules and procedures for the importation of textiles. Similarly, the exporting states must adhere to the export regulations and documentation required by their respective countries.
HS Code 52122210 plays a crucial role in facilitating international trade of woven fabrics of cotton containing wool or fine hair. Its classification and associated duty rates ensure fair and equal treatment for all trading partners. Understanding the specific requirements and regulations related to this HS code is essential for smooth import and export operations.