Synthetic staple fibers are a type of textile fiber that is commonly used in the production of fabrics and garments. These fibers are made from synthetic materials such as polyester and are processed for spinning, making them suitable for use in various textile applications.
The HS Code 55062000 specifically refers to synthetic staple fibers of polyesters that have been carded, combed, or otherwise processed for spinning. This code is used to classify and categorize these fibers for international trade purposes.
When it comes to international trade, countries often impose customs duties on imported goods. However, the MFN (Most Favored Nation) principle states that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. In the case of HS Code 55062000, the bound or MFN duty rate is set at 5.7%.
The quantity unit for this HS Code is kilograms (KG). This unit of measurement is used to determine the weight of the synthetic staple fibers being imported or exported.
There are also special tariff preference programs that provide certain countries with preferential treatment when it comes to the importation of synthetic staple fibers under HS Code 55062000. The following countries enjoy free or special rates:
These special tariff preference programs aim to promote trade between the countries involved and provide economic benefits to both importers and exporters of synthetic staple fibers.
When it comes to the United States, the importing and exporting of synthetic staple fibers under HS Code 55062000 are conducted between various states. However, based on the available data, the specific states involved in these trade activities are Delaware.
HS Code 55062000 represents synthetic staple fibers of polyesters that have been processed for spinning. This code helps in the classification and regulation of these fibers for international trade purposes. Understanding the duty rates, quantity unit, and special tariff preference programs associated with this HS Code is essential for importers, exporters, and traders in the textile industry.