The HS Code 54024710 refers to a specific product description: single yarn, twist of 0-50 turns/m, wholly polyester, 75-80 decitex, 24 filaments, not put up for retail sale. This code is used to classify and identify this particular type of yarn in international trade.
When importing or exporting goods, it is essential to use HS codes to ensure proper classification and compliance with international trade rules. HS codes are standardized codes developed by the World Customs Organization (WCO) to facilitate the classification of products for customs and statistical purposes.
The product described by HS Code 54024710 is a single yarn made entirely of polyester. It has a twist of 0-50 turns per meter, a decitex measurement of 75-80, and consists of 24 filaments. It is important to note that this product is not intended for retail sale, indicating that it is typically used as a raw material in textile manufacturing processes.
One significant aspect to consider when dealing with HS codes is the bound or most-favored-nation (MFN) duty rate. The MFN duty rate for HS Code 54024710 is 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% to this specific product from all its trading partners.
The quantity unit for HS Code 54024710 is kilograms (KG). This unit of measurement is commonly used in international trade to quantify the weight of goods being imported or exported.
In addition to the bound duty rate, there are also special tariff preference programs that affect the importation of products classified under HS Code 54024710. Some countries offer preferential treatment or lower duty rates for imports of this product. The following countries have specific tariff preference programs for HS Code 54024710:
It is crucial for importers and exporters to be aware of these special tariff preference programs as they can significantly impact the cost of importing or exporting goods classified under HS Code 54024710, depending on the country of origin or destination.
Finally, it is worth mentioning that the HS code 54024710 is used for imports into the United States. However, the exporting US states are not specified in the provided data.
HS Code 54024710 represents a specific type of single yarn made of wholly polyester, with specific characteristics such as twist, decitex, and filament count. Understanding the HS code system and its associated duty rates and tariff preference programs is crucial for successful international trade transactions involving this product.