Woven fabrics play a crucial role in various industries, providing strength, durability, and versatility. HS Code 54076930 specifically refers to woven fabrics containing 85% or more by weight of polyester filaments. These fabrics have a thread count ranging from more than 69 to 142 per centimeter in the warp direction and more than 31 to 71 per centimeter in the filling direction, and are made from yarns of different colors.
Understanding the HS code is essential for importers, exporters, and customs authorities as it simplifies the classification and tracking of goods. HS codes, also known as Harmonized System codes, are standardized international codes used to classify products for customs purposes. They ensure uniformity and facilitate international trade.
When it comes to trade, one of the critical factors to consider is the bound or Most Favored Nation (MFN) duty rate. The bound duty rate determines the maximum tariff that a country can impose on a specific product. In the case of HS Code 54076930, the bound duty rate is free. This means that countries must eliminate any trade barriers or open up their markets for this product from all their trading partners.
Quantity unit for HS Code 54076930 is measured in square meters (M2). This unit provides a standardized method of measuring the area of the woven fabric, allowing for accurate calculations and transactions.
Additionally, several special tariff preference programs are in place for HS Code 54076930. These programs offer reduced or duty-free rates for importing and exporting countries. The following is a breakdown of the special tariff preference programs for this HS code:
These special tariff preference programs promote trade by offering favorable conditions for importing and exporting countries. Importers and exporters can take advantage of these programs to reduce costs and enhance competitiveness in the market.
Importing of HS Code 54076930 fabrics into the United States is subject to the specific regulations and requirements of each state. Exporting of these fabrics from the United States is similarly subject to the regulations and requirements of the destination country. It is crucial for businesses to familiarize themselves with the import and export procedures, documentation, and restrictions applicable to woven fabrics within their respective states and trading partners.
HS Code 54076930 represents a significant category of woven fabrics, offering a wide range of applications across industries. Whether used in apparel, home textiles, or industrial products, these fabrics provide durability, color variety, and ease of use. By understanding the HS code and the associated tariff programs, importers and exporters can navigate the complexities of international trade more effectively, promoting economic growth and fostering global partnerships.