Yarn is an essential component of the textile industry, and it plays a crucial role in the production of various fabrics and garments. One such type of yarn is classified under HS Code 55092200. In this article, we will explore the product description, duty rates, quantity units, and special tariff preference programs associated with this HS code.
The HS Code 55092200 refers to yarn that is made up of 85% or more by weight of polyester staple fibers. This type of yarn is multiple or cabled, which means it is formed by twisting two or more individual yarns together. It is important to note that this particular yarn is not put up for retail sale, indicating that it is primarily used for industrial purposes rather than consumer products like sewing thread.
When importing yarn under HS Code 55092200, the bound or most-favored-nation (MFN) duty rate is 10.6%. This rate applies every time a country lowers a trade barrier or opens up a market. It is a principle of fairness that ensures equal treatment for the same goods or services from all trading partners. This duty rate aims to maintain a level playing field for international trade.
The unit of measurement for yarn imported under HS Code 55092200 is kilograms (KG). This quantity unit provides a standardized way to measure and trade yarn in the international market. It helps ensure accuracy and consistency in the measurement and pricing of yarn during import and export transactions.
Several countries have special tariff preference programs in place for yarn imported under HS Code 55092200. These programs provide certain benefits or exemptions from duty rates. Here are some examples:
These special tariff preference programs aim to promote trade and strengthen economic ties between countries. By providing preferential treatment to certain trading partners, these programs encourage the growth of international commerce and foster mutually beneficial relationships.
When importing yarn under HS Code 55092200 into the United States, there are no specific restrictions on the importing states. However, when exporting yarn from the United States, it is important to consider the specific requirements and regulations of the destination country.
HS Code 55092200 refers to yarn made primarily of polyester staple fibers. It is multiple or cabled and not intended for retail sale. Importers should be aware of the duty rates, quantity units, and special tariff preference programs associated with this HS code to ensure smooth and efficient international trade. By understanding these details, businesses can navigate the complexities of global commerce and maximize their opportunities in the textile industry.