When it comes to international trade, it is essential to have a standardized system for classifying products. The Harmonized System (HS) provides a universal classification for goods, facilitating trade between countries. Each product is assigned a unique HS code, which is used to identify and categorize items during the import and export process.
The HS Code 54079405 refers to woven fabrics of synthetic filament yarn nesoi, containing 36 percent or more by weight of wool or fine animal hair, and printed. Let's explore this HS code in more detail.
The product description for HS Code 54079405 is quite specific. It refers to woven fabrics made from synthetic filament yarn (a type of continuous synthetic fiber) that contains 36 percent or more by weight of wool or fine animal hair. These fabrics are also printed, indicating that they may feature various patterns or designs.
The bound or most-favored nation (MFN) duty rate for HS Code 54079405 is free. This means that when 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. Essentially, countries must treat imports of these woven fabrics equally, without imposing any additional duties or tariffs.
The quantity unit for HS Code 54079405 is square meters (M2). This unit is used to measure the area of the woven fabrics being imported or exported.
Several countries have special tariff preference programs for HS Code 54079405. These programs offer reduced or duty-free rates for importing these woven fabrics. Here are the details:
These special tariff preference programs aim to promote trade and economic cooperation between the countries involved.
HS Code 54079405 can be imported or exported between various states within the United States. The specific states involved in importing or exporting these woven fabrics may vary depending on the trade agreements and partnerships established between different states.
Understanding the HS code and its associated details is crucial for importers, exporters, and customs officials. It ensures proper classification, smooth customs clearance, and accurate calculation of duties and tariffs. HS Code 54079405, with its specific product description and various special tariff preference programs, plays a significant role in international trade of woven fabrics containing wool or fine animal hair.