The HS Code 54034200 refers to yarn made of cellulose acetate, excluding sewing thread, which is multiple (folded) or cabled and not packaged for retail sale. This code is used to classify and track this specific type of yarn in international trade.
Cellulose acetate is a synthetic fiber derived from cellulose, a natural polymer found in plant cell walls. It is commonly used in the textile industry for manufacturing various products such as clothing, upholstery, and home furnishings.
When importing or exporting yarn of cellulose acetate under HS Code 54034200, certain regulations and requirements must be met. It is essential to understand the duty rates, quantity units, and any special tariff preference programs associated with this code.
The bound or most-favored-nation (MFN) duty rate for HS Code 54034200 is 8%. This means that every time a country reduces a trade barrier or opens up its market, it must apply the same duty rate of 8% to all its trading partners for this specific yarn. The duty rate is the percentage of the product's declared value that must be paid as a tax upon importation.
Importers and exporters need to consider the duty rate when calculating the cost of trading this yarn internationally. It is important to note that duty rates can change over time due to trade agreements, negotiations, or changes in national policies.
The quantity unit for HS Code 54034200 is kilograms (KG). This means that the weight of the yarn, when measured in kilograms, determines the quantity for customs purposes. It is crucial to accurately declare the weight of the imported or exported yarn to comply with customs regulations and facilitate the calculation of duties and taxes.
Several countries and trade agreements offer special tariff preference programs for yarn of cellulose acetate under HS Code 54034200. These programs provide specific benefits or exemptions from duty rates to promote trade and economic cooperation between countries.
These special tariff preference programs aim to facilitate trade between countries by reducing or eliminating the duty rates applied to yarn of cellulose acetate. Importers and exporters should take advantage of these programs to optimize their trading activities and reduce costs.
The HS Code 54034200 applies to the importation and exportation of yarn of cellulose acetate from and to various US states. The specific states involved in the trade will depend on the business transactions and shipping routes chosen by the importers and exporters.
The US states involved in importing this yarn may include states with textile manufacturing industries or those that rely on imported materials for their production processes. Similarly, the exporting US states may include those with yarn production facilities or those engaged in international trade of textile products.
It is essential for importers and exporters to comply with all applicable regulations and requirements of the US states involved in the trade. This includes customs procedures, documentation, and any additional restrictions or licensing requirements imposed by the respective states.
HS Code 54034200 represents yarn made of cellulose acetate, excluding sewing thread, which is multiple (folded) or cabled and not packaged for retail sale. Understanding the duty rates, quantity units, and special tariff preference programs associated with this code is crucial for importers and exporters engaged in international trade of this specific yarn.