HS Code 54024600 refers to non-textured yarn of polyesters that is partially oriented. This means that the polyester yarn is not fully stretched or drawn, which gives it a certain level of elasticity. The yarn can be single, untwisted, or have a twist not exceeding 50 turns per meter. It is important to note that this type of yarn is not put up for retail sale; it is primarily used for further processing in the textile industry.
The quantity unit for this HS code is kilograms (KG). This means that the measurement and pricing of the yarn are based on weight rather than length or volume.
When it comes to trade barriers and market access, the bound or most favored nation (MFN) duty rate for HS Code 54024600 is 8.8%. The MFN duty rate signifies that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This ensures fair and non-discriminatory trade practices.
However, there are special tariff preference programs in place for this HS code. Some countries offer duty-free treatment for imports of non-textured polyester yarn, while others apply a reduced tariff rate. The following countries provide duty-free treatment: Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, Singapore. Meanwhile, Morocco applies a special rate of 0.80% for imports of this product.
Importing and exporting of HS Code 54024600 can occur between various US states. The specific states involved in the import and export of this product may vary depending on market demand and supply chain dynamics.
HS Code 54024600 represents non-textured yarn of polyesters that is partially oriented. This yarn is not put up for retail sale and is primarily used in the textile industry for further processing. The MFN duty rate for this HS code is 8.8%, but certain countries offer duty-free treatment or reduced tariff rates. Importing and exporting of this product can occur between different US states, depending on market dynamics.