The HS Code 54011000 refers to sewing thread made of synthetic filaments, whether or not it is put up for retail sale. This code is used to classify and identify this specific product for international trade purposes. Understanding the HS code is essential for importers and exporters, as it helps in determining the applicable customs duties, regulations, and special tariff preference programs.
The bound or Most Favored Nation (MFN) duty rate for HS Code 54011000 is 11.4%. The MFN principle is a fundamental rule of the World Trade Organization (WTO), stating that when 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 means that all countries importing or exporting sewing thread of synthetic filaments should have equal access and treatment.
The unit of measurement for this product is kilograms (KG). This quantity unit is used to determine the weight of the sewing thread being imported or exported.
There are also special tariff preference programs available for HS Code 54011000. These programs offer different duty rates or even duty-free treatment for specific countries. The following countries have special tariff rates for sewing thread of synthetic filaments:
These special tariff preference programs aim to promote trade and economic cooperation between the countries involved. Importers and exporters should be aware of these programs to take advantage of the lower duty rates or duty-free treatment when trading sewing thread of synthetic filaments with these specific countries.
When importing or exporting sewing thread of synthetic filaments (HS Code 54011000) to or from the United States, it is important to consider the specific regulations and requirements of the importing and exporting US states. Each state may have its own rules regarding customs procedures, documentation, and licensing. It is crucial to comply with these state-level regulations to ensure smooth and legal trade transactions.
HS Code 54011000 represents sewing thread made of synthetic filaments, whether for retail sale or not. Understanding this code is essential for importers and exporters to determine the applicable customs duties, regulations, and special tariff preference programs. By being aware of the specific duty rates and special programs available, businesses can optimize their international trade operations and take advantage of cost-saving opportunities.