The HS Code 54078200 refers to a specific product category of woven fabrics. These fabrics are made up of less than 85 percent synthetic filaments by weight and are mainly or solely mixed with cotton. Additionally, these fabrics are dyed to add color and aesthetic appeal.
This HS code is used by customs officials and importers/exporters to classify and track the trade of this particular type of fabric. It helps in determining the appropriate tariffs, duties, and trade regulations associated with the product.
When importing or exporting products classified under HS Code 54078200, it is important to be aware of the bound/MFN (Most Favored Nation) duty rate. In this case, the duty rate is 14.9%. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners.
The quantity unit for this HS code is square meters (M2). This unit is used to measure the area of the fabric being imported or exported.
There are also special tariff preference programs available for this product category. These programs offer reduced or duty-free rates for certain countries. Here are some examples:
These special tariff preference programs allow for more favorable trade conditions for the countries mentioned, promoting trade and economic cooperation.
When it comes to importing or exporting products under HS Code 54078200, it is also important to consider the specific states involved. The importing US states and the exporting US states play a role in determining the logistics and regulations associated with the trade of these woven fabrics. It is essential to comply with the regulations set by the respective states to ensure a smooth and legal trade process.
HS Code 54078200 refers to woven fabrics that contain less than 85 percent synthetic filaments mixed mainly or solely with cotton, and are dyed. This code helps classify and track the trade of these fabrics, determining the appropriate tariffs, duties, and trade regulations. Understanding the bound/MFN duty rate, quantity unit, special tariff preference programs, and the involvement of specific US states is crucial for a successful import/export process.