The HS code 54041100 refers to a specific type of synthetic monofilament that is elastomeric in nature. This product is characterized by having a decitex of 67 or more and a cross-sectional dimension greater than 1 mm. This code is used to classify and identify this particular type of monofilament in international trade.
When it comes to international trade, it is essential to have a standardized system that allows for the classification and identification of different products. The Harmonized System (HS) is a globally recognized system that assigns unique codes to products based on their characteristics, composition, and intended use.
The HS code 54041100 helps customs officials, importers, and exporters to accurately identify and classify synthetic monofilament products. By using this code, it becomes easier to track and monitor the movement of these goods across international borders.
The product description for HS code 54041100 specifies that it excludes polypropylene. This means that the code applies to synthetic monofilament made from materials other than polypropylene. The elastomeric nature of the monofilament makes it flexible and stretchable, which is desirable for various applications.
The quantity unit for this HS code is kilograms (KG). This means that the weight of the synthetic monofilament is measured and expressed in kilograms.
One important aspect of international trade is the imposition of tariffs or duties on imported goods. The bound or most-favored-nation (MFN) duty rate for HS code 54041100 is 6.9%. This means that when 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.
In addition to the duty rate, there are special tariff preference programs in place for HS code 54041100. These programs provide certain countries with preferential treatment or exemptions from import duties. The following countries have special tariff rates for this code: 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.
When importing goods into the United States, it is also important to consider the specific states that export these goods. This information helps in determining the origin of the goods and any additional regulations or requirements that may be applicable.
HS code 54041100 is used to classify and identify synthetic monofilament products that are elastomeric in nature and have specific characteristics regarding decitex and cross-sectional dimensions. This code facilitates international trade by providing a standardized system for the classification and tracking of these goods. Importers and exporters should be aware of the duty rates and special tariff preference programs associated with this code to make informed decisions regarding their trade activities.