When it comes to international trade, it is essential to have a standardized system that classifies and categorizes products. One such system is the Harmonized System (HS) code, which is used by customs authorities around the world to identify and classify goods. The HS code 54079120 refers to woven fabrics of synthetic filament yarn, not elsewhere specified or included (nesoi), that are unbleached or bleached. In this article, we will explore this HS code in detail and its implications for international trade.
The product description for HS code 54079120 is woven fabrics made from synthetic filament yarn. These fabrics can be either unbleached or bleached, depending on the manufacturing process. Synthetic filament yarn is a type of yarn made from synthetic fibers, such as polyester or nylon. The fabrics produced from this yarn are known for their strength, durability, and versatility.
The bound or Most Favored Nation (MFN) duty rate for HS code 54079120 is 14.9%. The MFN duty rate is the rate applied to imports from one country to another, and it is meant to ensure equal treatment among trading partners. This means that every time 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.
The quantity unit for HS code 54079120 is square meters (M2). This unit is used to measure the area covered by the woven fabrics. It provides a standardized measurement that allows for accurate trade data and calculations.
Several countries have special tariff preference programs in place for imports classified under HS code 54079120. These programs offer reduced or duty-free rates for specific trading partners. The following are some of the special tariff preference programs applicable to this HS code:
These special tariff preference programs aim to promote trade and economic cooperation between countries. By offering lower or duty-free rates, they incentivize imports and exports, fostering economic growth and development.
HS code 54079120 is relevant for both importing and exporting US states. This means that these woven fabrics of synthetic filament yarn are traded between different states within the United States. The exact details of importing and exporting states are not provided in the available data, but it indicates that this product has domestic as well as international trade significance.
HS code 54079120 represents woven fabrics of synthetic filament yarn, either unbleached or bleached. It is an important product category in international trade, with various special tariff preference programs in place to facilitate trade between countries. The square meter is the quantity unit used to measure these fabrics, and the bound or MFN duty rate for this HS code is 14.9%. Understanding the HS code system and its implications is crucial for businesses involved in international trade.