The HS Code 55092100 refers to a specific category of yarn that is used in various industries. It is important to understand the details and specifications of this code in order to accurately classify and trade this product.
The product description states that the yarn in question is made of polyester staple fibers and is not intended for retail sale. This means that it is primarily used for industrial purposes, such as in the production of textiles, garments, and other related products.
One key aspect to note is that this type of yarn must contain at least 85% polyester staple fibers by weight. This ensures that the yarn has the necessary properties and characteristics required for its intended applications.
The quantity unit for this HS Code is kilograms (KG). This means that the weight of the yarn is measured in kilograms when it is traded or transported internationally.
When it comes to the trade barriers and market access for this product, the Bound / MFN (Most Favored Nation) duty rate is 9.7%. This means 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 ensures fair and equal treatment for all countries involved in the trade of this product.
In addition to the general duty rate, there are also special tariff preference programs in place for certain countries. These programs allow for reduced or duty-free treatment of the product when imported from specific countries. For example, Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, Singapore, and the Dominican Republic-Central American countries (under DR-CAFTA) enjoy either duty-free treatment or a special rate of 0.9% for imports of this yarn.
It is also worth mentioning that the United States has specific states that are known for importing and exporting this type of yarn. Currently, Delaware is one of the states involved in the import and export of HS Code 55092100. This information can be useful for businesses and traders looking to engage in the trade of this specific product.
the HS Code 55092100 represents a specific type of yarn made of polyester staple fibers, primarily used in industrial applications. Understanding the details and specifications of this code, as well as the associated duty rates and special tariff preference programs, is crucial for accurate classification and successful trade of this product.