When it comes to international trade, several codes and regulations are used to classify products and determine their import and export requirements. One such code is the HS Code, which stands for Harmonized System Code. This code is used globally to classify goods and facilitate international trade. In this article, we will explore the HS Code 54083315, which pertains to woven fabrics containing 85% or more MM filaments.
The product description of HS Code 54083315 states that it refers to woven fabrics containing 85% or more MM filaments, with a thread count greater than 69-142/cm in the warp direction and greater than 31-71/cm in the filling direction. These fabrics are made using different colored yarns, resulting in visually appealing and diverse textiles.
It is important to note that the HS Code 54083315 deals specifically with woven fabrics and does not include other types of textiles or materials. The thread count mentioned in the product description indicates the density of the fabric, with a higher thread count generally indicating a finer and more tightly woven fabric.
Now, let's delve into the various aspects related to HS Code 54083315:
The bound or MFN (Most-Favored Nation) duty rate for products falling under HS Code 54083315 is 12.3 cents/kg plus 11.4%. The bound duty rate is the maximum rate that a country can impose on imports of a particular product. However, this rate may be subject to change due to trade agreements and negotiations.
It is worth mentioning 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. This principle is known as the MFN principle and ensures fair and non-discriminatory trade practices.
The quantity unit for measuring products under HS Code 54083315 is square meters (M2). This unit is used to determine the area of the woven fabric, allowing for accurate measurement and calculation of the quantity being imported or exported.
HS Code 54083315 may be eligible for special tariff preference programs, which offer reduced or eliminated duty rates for certain countries. The following are the special tariff preference programs applicable to this HS Code:
These special tariff preference programs are designed to promote trade and economic cooperation between countries. Importing or exporting countries can take advantage of these programs to benefit from reduced duty rates or duty-free treatment, depending on the specific program.
HS Code 54083315 is relevant for both importing and exporting within the United States. Importing US states refer to the states that receive shipments of products falling under this HS Code, while exporting US states refer to the states that send out these products to international markets.
It is important for businesses and traders to be aware of the specific requirements and regulations associated with importing or exporting products under HS Code 54083315. This includes customs procedures, documentation, and any applicable licensing or certification requirements.
HS Code 54083315 relates to woven fabrics containing 85% or more MM filaments with specific thread count parameters. Understanding the details of this HS Code, including duty rates, quantity units, special tariff preference programs, and import/export requirements, is crucial for businesses engaged in international trade. By adhering to the regulations and taking advantage of beneficial trade programs, businesses can optimize their import and export operations.