The HS Code 54077200 refers to woven fabrics that contain 85 percent or more by weight of synthetic filaments and are dyed. This code is used to classify and identify this specific type of product in international trade. It is important for importers, exporters, and customs officials to understand and use this code correctly to ensure accurate and efficient trade transactions.
When importing or exporting products classified under HS Code 54077200, it is crucial to be aware of the associated duty rates. The bound or most favored nation (MFN) duty rate for this HS code is 14.9%. The MFN duty rate represents the rate that every country must apply when lowering trade barriers or opening up a market for the same goods or services from all its trading partners. This duty rate ensures fair and equal treatment for all countries involved in international trade.
The quantity unit for this HS code is square meters (M2). This unit is used to measure the area of the woven fabrics being imported or exported. It is important to accurately calculate and declare the quantity of the product to comply with customs regulations and facilitate trade processes.
There are also special tariff preference programs associated with HS Code 54077200. These programs provide preferential treatment in terms of duty rates for specific countries. The following countries enjoy duty-free treatment under these programs:
In addition, Australia (AU) enjoys a special rate of 3% under this HS code, while Morocco (MA) benefits from a special rate of 1.5%.
When importing products classified under HS Code 54077200 into the United States, it is necessary to consider the specific regulations and requirements of each state. Similarly, when exporting these products from the United States, knowledge of the regulations and requirements of the destination country is essential for a smooth trade process.
HS Code 54077200 represents woven fabrics that contain a high percentage of synthetic filaments and are dyed. Understanding the associated duty rates and special tariff preference programs is vital for importers, exporters, and customs officials. Accurate declaration of quantity and compliance with specific regulations are necessary to ensure efficient trade transactions related to this HS code.