The HS Code 54025210 refers to a specific type of textile product. It is a single yarn made of wholly polyester fibers, with a twist exceeding 50 turns per meter. The yarn has a decitex range of 75-80 and is composed of 24 filaments. It is important to note that this product is not put up for retail sale, meaning it is typically used in manufacturing or other industrial applications.
The HS Code is a standardized system used for classifying and categorizing goods in international trade. It helps to ensure consistency and clarity in trade transactions by providing a unique code for each product. The code consists of a series of numbers and/or letters that indicate the product's characteristics, such as its composition, function, and origin.
When importing or exporting goods, it is essential to correctly identify and classify the products according to their HS Codes. This ensures compliance with customs regulations and allows for the proper assessment of duties and taxes.
The bound or most-favored-nation (MFN) duty rate for HS Code 54025210 is 8.8%. 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. This principle promotes fairness and equal treatment in international trade.
The quantity unit for HS Code 54025210 is kilograms (kg). This means that the product is typically measured and traded in weight rather than in units or volume.
In addition to the standard duty rate, there are special tariff preference programs available for imports of HS Code 54025210. These programs provide preferential treatment, such as duty-free or reduced-duty rates, for certain countries. The countries that offer special tariff preferences for this HS Code include Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Morocco, Mexico (under NAFTA), Oman, the Dominican Republic-Central America (under DR-CAFTA), Peru, and Singapore.
When importing HS Code 54025210 into the United States, it is important to consider the specific requirements and regulations of both the importing and exporting US states. Each state may have its own rules and procedures for importing goods, which should be followed to ensure compliance with local laws.
Overall, HS Code 54025210 represents a specific type of polyester yarn used in various industrial applications. Its classification under this HS Code allows for accurate identification, proper assessment of duties, and access to special tariff preference programs for eligible countries.