The HS Code 54023961 refers to multiple or cabled textured yarn, excluding sewing thread, that is not packaged for retail sale. This code is used to classify and identify this specific type of yarn for international trade purposes. Understanding the details and implications of this code is essential for importers, exporters, and industry professionals involved in the textile sector.
The product description for HS Code 54023961 is multiple or cabled textured yarn. This yarn is different from sewing thread and is not intended for retail sale. It may be used for various purposes in textile manufacturing, such as weaving, knitting, or embroidery. The multiple or cabled texture of the yarn adds unique characteristics and visual appeal to the final textile products.
The bound or most-favored-nation (MFN) duty rate for HS Code 54023961 is 8%. The MFN principle ensures that whenever 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 duty rate applies to all countries and is an important factor to consider when calculating the cost of importing or exporting this type of yarn.
The quantity unit for HS Code 54023961 is kilograms (KG). This means that the weight of the yarn is measured and recorded in kilograms for trade and customs purposes. Importers and exporters must accurately declare the quantity of yarn being traded in order to comply with international regulations and facilitate smooth customs clearance procedures.
Several countries offer special tariff preference programs for HS Code 54023961. These programs provide preferential treatment in terms of duty rates, either reducing or eliminating import taxes. The list of countries and the specific tariff rates are as follows:
These special tariff preference programs can significantly impact the cost competitiveness of importing or exporting this type of yarn. Importers and exporters should take advantage of these programs whenever applicable to reduce their overall expenses.
HS Code 54023961 can be imported and exported by various US states. The specific states involved in the import and export of this yarn may vary based on market demand, production capacity, and other factors. However, some of the common US states involved in trading this product include:
These states play a crucial role in facilitating the international trade of multiple or cabled textured yarn within the United States. The transportation and logistics networks in these states ensure the smooth flow of goods between domestic and international markets.
HS Code 54023961 represents multiple or cabled textured yarn that is not intended for retail sale. Understanding the product description, duty rates, quantity unit, special tariff preference programs, and the involvement of specific US states in the import and export of this yarn is vital for a successful and efficient textile trade.