When it comes to international trade, the Harmonized System (HS) Code plays a vital role in classifying products for import and export. In this article, we will explore HS Code 54077400, which pertains to woven fabrics containing 85 percent or more by weight of synthetic filaments, specifically those that are printed.
Woven fabrics are widely used in various industries, including fashion, home decor, and automotive. They are known for their strength, versatility, and aesthetic appeal. Fabrics containing synthetic filaments provide additional benefits such as durability, resistance to wrinkles, and ease of care.
HS Code 54077400 helps customs authorities identify and categorize these specific types of woven fabrics in international trade. It ensures that the appropriate duties and regulations are applied to these products during import and export processes.
The bound or most-favored nation (MFN) duty rate for products classified under HS Code 54077400 is 14.9%. This rate applies every time a country lowers a trade barrier or opens up a market, ensuring equal treatment for the same goods or services from all trading partners. It helps promote fair and equitable trade practices among nations.
The quantity unit for products classified under HS Code 54077400 is square meters (M2). This unit of measurement helps determine the quantity of woven fabrics being imported or exported. It plays a crucial role in calculating costs, logistics, and inventory management.
Several countries have established special tariff preference programs for products classified under HS Code 54077400. These programs aim to promote trade and economic cooperation by offering preferential duty rates or even duty-free treatment. Some of the notable programs are as follows:
These special tariff preference programs provide significant advantages for importers and exporters dealing with woven fabrics containing synthetic filaments. They help reduce costs, enhance competitiveness, and facilitate trade relationships between participating countries.
HS Code 54077400 is relevant not only for international trade but also for trade within the United States. Importing and exporting activities involving this HS Code can take place between various US states. The specific states involved in these transactions may vary based on market demand, production capabilities, and transportation infrastructure.
It is worth noting that the US states engaged in importing and exporting woven fabrics containing synthetic filaments classified under HS Code 54077400 can benefit from the special tariff preference programs mentioned earlier. These programs can contribute to the growth of domestic industries, job creation, and overall economic development.
HS Code 54077400 plays a crucial role in international trade by accurately classifying and regulating woven fabrics containing synthetic filaments. It ensures fair treatment, appropriate duties, and preferential benefits for importers and exporters dealing with these products. Understanding the HS Code and its associated data is essential for businesses and individuals engaged in the global textile trade.