Artificial filament tow is a product that falls under the HS Code 55020000. This code is used to classify and identify specific goods for international trade. In this article, we will explore the details of this HS code, including its description, duty rates, quantity units, and special tariff preference programs.
The HS Code 55020000 refers to artificial filament tow. Filament tow is a continuous strand of synthetic fibers that are loosely bound together. These fibers are commonly used in the production of textiles, especially for making yarns, fabrics, and other textile products. Artificial filament tow is made from synthetic materials such as polyester, nylon, or acrylic.
The bound / MFN (Most Favored Nation) duty rate for the HS Code 55020000 is 7.5%. The MFN duty rate is the rate applied to a product when a country lowers a trade barrier or opens up a market. It is a standard rate that applies to all trading partners of the country. This means that any country importing artificial filament tow under this HS code will have to pay a duty rate of 7.5%.
The quantity unit for artificial filament tow is kilograms (KG). This means that the weight of the tow is measured in kilograms when it is imported or exported. The KG unit is a standard international unit for measuring weight and is widely used in trade transactions.
There are several special tariff preference programs associated with the HS Code 55020000. These programs offer preferential treatment or duty-free access to specific countries. The countries that provide special tariff rates for artificial filament tow under this HS code include:
These special tariff preference programs aim to promote trade and economic cooperation between the countries involved. By offering reduced or zero-duty rates, they encourage the import and export of artificial filament tow, benefiting both the importing and exporting countries.
The HS Code 55020000 is relevant not only for international trade but also for trade within the United States. Different states within the US import and export artificial filament tow under this HS code. Some of the main importing states include California, Texas, New York, and Illinois. On the other hand, major exporting states include North Carolina, South Carolina, Georgia, and Virginia.
the HS Code 55020000 is used to classify and identify artificial filament tow in international trade. This code provides specific details about the product, including its description, duty rates, quantity units, and special tariff preference programs. Understanding this HS code is crucial for importers, exporters, and other stakeholders involved in the trade of artificial filament tow.