When it comes to international trade, it is essential to have a standardized system in place to classify products. The Harmonized System (HS) provides a universal language for classifying goods, facilitating trade and ensuring that countries have a consistent and transparent system for customs and tariff purposes. One such HS code is 54083120, which pertains to woven fabrics of artificial filament yarn nesoi, whether unbleached or bleached, not elsewhere specified or included.
The HS code 54083120 specifically applies to woven fabrics made from artificial filament yarn. These fabrics can be either unbleached or bleached, and they fall under the category of "not elsewhere specified or included." This code helps customs officials and traders to identify and classify these particular types of fabrics accurately.
One crucial aspect of the HS code system is the duty rate assigned to each code. In the case of HS code 54083120, the bound or MFN (Most Favored Nation) duty rate is 14.9%. This rate applies whenever a country lowers a trade barrier or opens up a market, ensuring that the same goods or services from all trading partners receive the same treatment. This duty rate helps regulate international trade and ensures fair competition among countries.
The quantity unit for HS code 54083120 is square meters (M2). This unit of measurement is used to determine the amount of fabric being imported or exported under this code. It provides a standardized method for calculating the quantity of goods involved in international trade transactions.
Several special tariff preference programs are applicable to products classified under HS code 54083120. These programs provide reduced or duty-free treatment for specific countries. The countries and their respective rates are as follows:
These special tariff preference programs aim to foster trade relationships and provide economic benefits for both importing and exporting countries. They encourage trade cooperation and facilitate the flow of goods between nations.
HS code 54083120 is relevant for both importing and exporting US states. It serves as a classification tool for customs officials to determine the appropriate tariff rates and regulations for woven fabrics of artificial filament yarn nesoi. Importers and exporters in the US need to be aware of this code when conducting international trade transactions involving these specific types of fabrics.
HS code 54083120 plays a significant role in international trade by accurately classifying woven fabrics of artificial filament yarn nesoi. It helps customs officials and traders identify and regulate the import and export of these fabrics. Additionally, the code's duty rate and special tariff preference programs ensure fair treatment and economic benefits for countries involved in trade transactions. Understanding and adhering to HS codes is crucial for smooth and transparent international trade.