When it comes to international trade, it is essential to have a standardized system for classifying products. This is where the Harmonized System (HS) code comes into play. The HS code 54083205 specifically refers to woven fabrics of artificial filament yarn, not elsewhere specified, containing 36 percent or more by weight of wool or fine animal hair, that have been dyed.
These fabrics are used in various industries, including fashion, upholstery, and home textiles. They offer a unique combination of artificial filament yarn and natural animal hair, resulting in fabrics that are both durable and luxurious.
The HS code 54083205 is regulated by international trade policies, and countries have specific duty rates associated with it. The bound/Most Favored Nation (MFN) duty rate for this product is 19.7%. 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 this product is square meters (M2). This unit is commonly used to measure the area of fabrics, allowing for easy calculation of the required amount for manufacturing or trading purposes.
There are also special tariff preference programs in place for this HS code. The following countries offer duty-free treatment for this product: 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). Australia (AU) offers a special rate of 3% for this product. Morocco (MA) offers a special rate of 0.4?/kg plus 2.1%.
These special tariff preference programs aim to promote trade and economic cooperation between countries. By providing favorable duty rates, they encourage the import and export of specific products, such as woven fabrics of artificial filament yarn containing wool or fine animal hair.
When importing this product into the United States, it is essential to consider the specific regulations and duty rates associated with each state. Similarly, when exporting from the United States, it is crucial to be aware of the regulations of the destination country.
The HS code 54083205 plays a vital role in international trade, ensuring a standardized classification for woven fabrics of artificial filament yarn containing wool or fine animal hair. By understanding the details and regulations associated with this code, businesses can navigate the global market more effectively and take advantage of special tariff preference programs.