The HS Code 54025290 refers to a specific type of product: single yarn with a twist exceeding 50 turns per meter. This code is used to classify and regulate the import and export of this particular type of yarn, which is not made entirely of polyester and is not put up for retail sale.
When importing or exporting goods, it is essential to understand the HS code assigned to the product. HS codes are a standardized system for classifying goods in international trade. They are used by customs authorities to determine the applicable tariffs, duties, and regulations for each product.
The product description in this HS code specifically mentions that the yarn should have a twist exceeding 50 turns per meter. The twist of a yarn refers to the number of turns or rotations made per unit length. A higher twist generally results in a stronger and more durable yarn.
It is important to note that this HS code applies only to single yarn, meaning it consists of a single strand of fibers or filaments. Yarns made of multiple strands, such as plied or cabled yarns, have different HS codes.
The bound or most-favored-nation (MFN) duty rate for this HS code is 8.8%. The MFN duty rate is the rate applied to imports from all trading partners, regardless of any preferential trade agreements or special tariff programs. This means that countries applying MFN treatment must impose the same duty rate on this yarn from all countries.
However, there are several special tariff preference programs that offer duty-free treatment for this product. The countries included in these programs are Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Morocco, Mexico (under NAFTA), Oman, the Dominican Republic and Central American countries (under DR-CAFTA), Peru, and Singapore.
These special tariff preference programs promote trade and economic cooperation between the countries involved. They aim to reduce trade barriers and provide preferential treatment to certain goods, including the single yarn specified in HS code 54025290.
When importing this product into the United States, it is essential to consider the specific regulations and requirements of the exporting country. The exporting US states may have their own regulations and restrictions on the export of this product. It is advisable to consult with customs authorities or trade experts to ensure compliance with all applicable laws and regulations.
HS code 54025290 classifies a specific type of single yarn with a twist exceeding 50 turns per meter. This code is used to regulate and determine the applicable tariffs, duties, and regulations for this product in international trade. While the MFN duty rate is 8.8%, there are several special tariff preference programs that offer duty-free treatment for this yarn, promoting trade between the participating countries.