Woven fabrics play a significant role in various industries, from fashion to interior design. One specific type of woven fabric is classified under HS Code 54083105. This code refers to woven fabrics of artificial filament yarn, not elsewhere specified, with a wool or fine animal hair content of 36 percent or more, whether unbleached or bleached.
When it comes to international trade, understanding the HS code is crucial for importers and exporters. The HS code provides a standardized classification system for products, ensuring uniformity in tariff rates and trade regulations worldwide. In the case of HS Code 54083105, it helps identify and classify woven fabrics containing wool or fine animal hair.
The bound or Most-Favored-Nation (MFN) duty rate for HS Code 54083105 is 25%. The MFN principle stipulates that when a country lowers trade barriers or opens up its market, it must do so for the same goods or services from all its trading partners. This ensures fair and non-discriminatory treatment among countries participating in international trade.
The quantity unit for HS Code 54083105 is square meters (M2). This unit of measurement allows for accurate calculation and comparison of the area of woven fabrics being imported or exported.
Several special tariff preference programs exist for HS Code 54083105. These programs offer reduced or zero-duty rates for specific countries. The following countries enjoy free tariff rates for this HS code: Bahrain (BH), Canada (CA) under NAFTA, Chile (CL), Israel (IL), Jordan (JO), Mexico (MX) under NAFTA, Oman (OM), Panama (P), Peru (PE), and Singapore (SG).
Additionally, Australia (AU) has a special rate of 3% for HS Code 54083105. Morocco (MA) has a unique tariff rate of 0.4?/kg plus 2.6% for this specific product.
When importing goods under HS Code 54083105 into the United States, it is essential to be aware of the specific regulations and requirements of individual states. Similarly, when exporting woven fabrics under this HS code from the United States, it is crucial to understand the regulations and requirements of the destination country.
HS Code 54083105 provides a standardized classification for woven fabrics of artificial filament yarn containing wool or fine animal hair. Understanding the details, tariff rates, and special tariff preference programs associated with this code is essential for successful international trade in this product category.