The Harmonized System (HS) code 54024510 refers to a specific product: synthetic filament yarn used for doll wigs. This yarn is made of colored multifilaments, either untwisted or with a twist of less than 5 turns per meter. It is primarily composed of nylon or other polyamide materials and is not intended for retail sale.
When importing or exporting products, it is important to understand the HS code assigned to them. The HS code provides a standardized classification system for goods traded internationally. It helps customs authorities categorize and identify products, ensuring proper documentation, and the application of appropriate duties and taxes.
The specific details related to HS code 54024510 are as follows:
Under the bound / most-favored nation (MFN) duty rate, the import of synth filament yarn for doll wigs is duty-free. This means that no additional tariffs or taxes are imposed on this product when it enters a country. This provision applies to all trading partners of the importing country, ensuring equal treatment for the same goods or services.
Furthermore, several countries have established special tariff preference programs for HS code 54024510. These programs provide additional benefits or exemptions for importing this product. The countries offering special rates for this HS code include:
These special tariff preference programs aim to promote trade and economic cooperation between the countries involved. They provide advantages such as reduced or eliminated customs duties, facilitating the import and export of goods within these partnerships.
In the United States, the importing and exporting of products with HS code 54024510 can occur between different states. However, the specific states involved in these transactions are not provided in the available data.
Understanding the HS code and its associated information is crucial for international trade. It helps businesses comply with customs regulations, determine applicable duties, and take advantage of any available tariff preference programs. In the case of HS code 54024510, it is evident that this product enjoys a duty-free status and benefits from various special tariff preference programs in several countries.