When it comes to international trade, the Harmonized System (HS) Code plays a crucial role in categorizing goods and facilitating smooth transactions between countries. In this article, we will delve into the details of HS Code 54083410, which covers woven fabrics of artificial filament yarn nesoi, mixed mainly or solely with wool or fine animal hair, printed, nesoi.
HS Code 54083410 describes a specific type of fabric that is made from artificial filament yarn, such as polyester or nylon, and is mixed with wool or fine animal hair. These fabrics are printed, which adds aesthetic appeal to the textile. The code ensures that these fabrics are properly classified and identified during the import-export process.
The bound or Most Favored Nation (MFN) duty rate for goods classified under HS Code 54083410 is 12%. The MFN duty rate is the standard rate applied to all trading partners whenever a country lowers a trade barrier or opens up a market. This principle ensures fair treatment for all countries involved in international trade.
The quantity unit for HS Code 54083410 is square meters (M2). This unit helps in quantifying the amount of fabric being traded and is widely used in the textile industry.
There are also special tariff preference programs associated with HS Code 54083410. These programs offer reduced or duty-free rates for certain countries. For example, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Panama, Peru, and Singapore enjoy duty-free treatment for goods classified under this HS code. Australia has a special rate of 3%, while Morocco has a special rate of 1.2%. These special tariff preference programs aim to promote trade relationships and incentivize the import and export of specific goods.
When it comes to importing goods under HS Code 54083410 into the United States, various states participate in the trade. The exporting states may vary depending on the specific trade agreements and partnerships. However, as the United States is a significant player in the global textile industry, it is common to see fabrics classified under this HS code being imported from various countries.
HS Code 54083410 refers to woven fabrics of artificial filament yarn, mixed with wool or fine animal hair, and printed. It is essential to accurately classify goods under this code to ensure proper documentation and adherence to trade regulations. The associated duty rates and special tariff preference programs further impact the cost and feasibility of importing or exporting these fabrics. Understanding HS codes and their implications is crucial for businesses involved in international trade.