When it comes to international trade, it is essential to have a system in place that facilitates the smooth flow of goods and ensures fair trade practices. One such system is the Harmonized System (HS) code, which is used globally to classify and define traded products. In this article, we will delve into the details of HS Code 55061000, which pertains to synthetic staple fibers made of nylon or other polyamides.
HS Code 55061000 specifically refers to synthetic staple fibers that have been carded, combed, or otherwise processed for spinning purposes. These fibers are commonly used in the textile industry for the production of various types of fabrics, including clothing, upholstery, and industrial materials. Nylon and other polyamides are known for their strength, durability, and resistance to abrasion, making them ideal for applications that require high-performance fibers.
One important aspect of international trade is the determination of import duties or tariffs, which are taxes imposed on imported goods. The bound or Most Favored Nation (MFN) duty rate for HS Code 55061000 is 5%. This means that whenever 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 5% duty rate applies to every import of synthetic staple fibers under this HS code.
The quantity unit for HS Code 55061000 is kilograms (KG). This unit of measure is commonly used in international trade to standardize the measurement of goods, making it easier for importers and exporters to accurately calculate the quantity of products being traded.
In addition to the standard duty rate, there are also special tariff preference programs that offer certain countries preferential treatment in terms of duty exemption or reduction. For HS Code 55061000, the following countries enjoy a special tariff preference:
These special tariff preference programs aim to promote trade and economic cooperation between countries by providing incentives for the import and export of specific goods.
Now, let's take a closer look at the importing and exporting US states for HS Code 55061000. In the case of importing, the top state is Delaware, which indicates that a significant amount of synthetic staple fibers of nylon or other polyamides under this HS code is being brought into the state. This information can be valuable for businesses involved in the textile industry, as it highlights the demand for these fibers in Delaware.
On the other hand, the exporting US states for HS Code 55061000 are not specified in the provided data. However, it is worth noting that the United States is a major exporter of textile and synthetic fiber products, supplying various countries around the world with high-quality materials.
HS Code 55061000 plays a crucial role in the international trade of synthetic staple fibers made of nylon or other polyamides. It provides a standardized classification for these fibers, facilitates the determination of import duties, and allows for the implementation of special tariff preference programs. Understanding the details of this HS code can help businesses navigate the global market and make informed decisions regarding the import or export of synthetic staple fibers.