The HS Code 53072000 refers to the product description of yarn made from jute or other textile bast fibers. This code specifically excludes flax, true hemp, and ramie fibers. The yarn can be in multiple (folded) or cabled form.
When it comes to international trade, the HS code plays a crucial role in identifying and categorizing different goods. It is used by customs authorities to determine the applicable duties, taxes, and regulations for specific products.
Yarn of jute or other textile bast fibers is classified under HS code 53072000. Jute, a long, soft, and shiny vegetable fiber, is the primary material used in the production of this yarn. Other textile bast fibers, such as kenaf, are also included in this category.
Textile bast fibers are derived from the inner bark or bast of certain plants. They are known for their strength, durability, and natural luster. Yarn made from these fibers is commonly used in the textile industry for various applications, including the production of fabrics, ropes, twines, and carpets.
The bound / most-favored-nation (MFN) duty rate for HS code 53072000 is free. This means that countries do not impose any tariff or duty on the importation of yarn of jute or other textile bast fibers.
The principle of most-favored-nation treatment ensures 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 promotes fair and equal treatment in international trade.
The quantity unit for HS code 53072000 is kilograms (KG). This unit of measurement is used to determine the weight or quantity of yarn being imported or exported.
By specifying the quantity unit as kilograms, it allows for accurate and standardized measurement across different countries and trading partners. This ensures transparency and consistency in international trade transactions.
There are several special tariff preference programs that may be applicable to the importation or exportation of yarn of jute or other textile bast fibers under HS code 53072000.
These programs aim to promote economic growth, development, and trade between countries by providing preferential treatment in terms of reduced duties or exemptions. Some of these programs include:
HS code 53072000 is applicable for both importing and exporting yarn of jute or other textile bast fibers in the United States.
Importing US states refer to those states within the United States that receive shipments of this product from other countries. Some of the major importing US states for yarn of jute or other textile bast fibers may include California, New York, Texas, and Georgia.
Exporting US states, on the other hand, are those states within the United States that produce and ship this product to other countries. States like West Bengal, Bihar, and Assam in India are known for their jute production and may be major exporters of yarn of jute or other textile bast fibers.
Understanding and complying with the HS code 53072000 is essential for importers, exporters, and customs authorities to facilitate smooth international trade transactions and ensure accurate classification and regulation of yarn of jute or other textile bast fibers.