The HS Code 54021930 refers to a specific product category in international trade. It specifically represents single high tenacity yarn made of nylon or polyamides (excluding aramids), which are not packaged for retail sale.
This code is used by customs authorities and trade organizations to classify and track imports and exports of this particular product. By using HS codes, countries can ensure consistent and accurate reporting of trade data, which is essential for monitoring trade flows and implementing trade policies.
The HS Code 54021930 is important for importers, exporters, and government agencies involved in international trade. It provides a standardized classification for this specific type of yarn, making it easier to identify, track, and regulate trade in this product category.
When importing or exporting goods classified under HS Code 54021930, it is crucial to understand the associated regulations, duties, and special tariff preference programs. Let's take a closer look at these details:
The bound / MFN (Most Favored Nation) duty rate for HS Code 54021930 is 8.8%. This means that every time a country lowers a trade barrier or opens up a market, it must apply the same duty rate of 8.8% for this type of yarn from all its trading partners. This ensures fair and equal treatment for all countries involved in trade.
The quantity unit for HS Code 54021930 is kilograms (KG). This signifies that the measurement and pricing of this yarn are based on weight in kilograms.
HS Code 54021930 is eligible for various special tariff preference programs, which provide preferential treatment or duty-free access to certain countries. The following countries have special rates or duty-free treatment for this product:
Importers and exporters engaging in trade with these countries can benefit from lower or duty-free tariffs, reducing the cost of importing or exporting HS Code 54021930.
HS Code 54021930 represents single high tenacity yarn made of nylon or polyamides (excluding aramids), which is not packaged for retail sale. Understanding this code and its associated details, such as duty rates and special tariff preference programs, is essential for anyone involved in international trade of this product category. By adhering to the regulations and taking advantage of special programs, importers and exporters can optimize their trade activities and minimize costs.