The HS Code 54012000 refers to sewing thread made of artificial filaments, regardless of whether it is packaged for retail sale or not. This code is used to classify and identify this specific product for international trade purposes. In this article, we will delve into the details of this HS code, including its product description, duty rates, quantity units, and special tariff preference programs.
Sewing thread of artificial filaments is a specialized type of thread used in the textile and garment industry for sewing fabrics and materials together. It is made from synthetic fibers such as polyester, nylon, or rayon. This type of thread offers excellent strength, durability, and resistance to stretching, making it ideal for various sewing applications.
Whether the sewing thread is sold in retail packaging or not, it falls under the HS code 54012000. This code is essential for customs authorities and importers/exporters to accurately identify and classify the product during international trade transactions.
The bound or MFN (Most Favored Nation) duty rate for HS code 54012000 is 11.4%. The MFN principle states that whenever a country reduces trade barriers or opens up its market, it must do so for the same goods or services from all its trading partners. Therefore, this duty rate applies uniformly to imports of sewing thread of artificial filaments from all countries.
It is important to note that duty rates can vary over time and may be subject to change due to trade agreements, negotiations, or other factors. Importers and exporters should always consult the latest customs regulations and tariffs to ensure compliance.
The quantity unit for HS code 54012000 is kilograms (KG). This unit of measurement is used to determine the weight of the sewing thread being imported or exported. It is crucial for calculating customs duties, freight charges, and logistics planning.
There are several special tariff preference programs associated with HS code 54012000. These programs provide specific benefits or exemptions from duty for eligible countries. The following countries or regions enjoy special rates or duty-free treatment when importing sewing thread of artificial filaments:
These special tariff preference programs are aimed at promoting trade and strengthening economic cooperation between countries. They provide opportunities for importers and exporters to benefit from reduced or eliminated duties, making the trading of sewing thread of artificial filaments more accessible and cost-effective.
It is essential for businesses to understand and comply with the specific requirements and conditions of each program to take full advantage of the available benefits.
HS code 54012000 represents sewing thread of artificial filaments, whether packaged for retail sale or not. This code is crucial for international trade transactions, allowing customs authorities and traders to accurately identify and classify the product. Importers and exporters should be aware of the duty rates, quantity units, and special tariff preference programs associated with this HS code to ensure compliance and maximize trade opportunities.