In international trade, products are classified and identified using a system called Harmonized System (HS) codes. HS codes are standardized codes used globally to classify and categorize goods for customs purposes. Each HS code represents a specific product, allowing for easier identification and regulation of trade.
HS Code 54024590 pertains to synthetic filament yarn that is not intended for doll wigs. It specifically refers to colored multifilament yarn made of nylon or other polyamides, which is untwisted or has a twist of less than 5 turns per meter. This specific type of yarn is not intended for retail sale.
When importing or exporting goods classified under HS Code 54024590, it is essential to understand the associated regulations and requirements. Let's take a closer look at the key information related to this HS code:
The bound or most-favored-nation (MFN) duty rate for goods classified under HS Code 54024590 is 8%. The MFN principle states 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.
The quantity unit for HS Code 54024590 is kilograms (KG). This means that the weight of the synthetic filament yarn is measured and reported in kilograms when importing or exporting.
Several special tariff preference programs are applicable to goods classified under HS Code 54024590. These programs provide certain countries with preferential treatment or duty-free access to the US market. The following countries enjoy special rates or duty-free treatment:
HS Code 54024590 allows for the importation of the specified synthetic filament yarn into various states within the United States. The specific states that import this product may vary depending on market demand and trade relationships.
Similarly, HS Code 54024590 allows for the exportation of the synthetic filament yarn from the United States to different states around the world. Export destinations can vary based on market demand and international trade agreements.
HS Code 54024590 represents synthetic filament yarn that is not intended for doll wigs. It is important for importers, exporters, and trade regulators to be familiar with the specific details and requirements associated with this HS code. Understanding the product description, duty rates, quantity units, and special tariff preference programs can facilitate smooth and compliant international trade transactions.