The HS Code 55093200 refers to yarn that is made up of 85% or more by weight of acrylic or modacrylic staple fibers. This type of yarn is commonly used in various industries for knitting, weaving, and other textile applications. It should be noted that this HS code specifically excludes sewing thread.
When importing or exporting goods classified under this HS code, it is important to understand the various trade regulations and tariff rates associated with it. Let's delve into some of the key details regarding this HS code:
The product description for HS Code 55093200 indicates that it pertains to yarn made primarily of acrylic or modacrylic staple fibers. Acrylic fibers are synthetic fibers that are known for their softness, durability, and resistance to sunlight and chemicals. Modacrylic fibers, on the other hand, offer flame retardant properties and are often used in applications where safety is a concern.
The yarn classified under this HS code can be in the form of multiple or cabled threads, which are commonly used in the textile industry for various purposes. However, it is important to note that this yarn is not put up for retail sale, meaning it is primarily used for further manufacturing or industrial purposes.
The bound or most-favored-nation (MFN) duty rate for HS Code 55093200 is set at 10%. This means 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. This duty rate applies to the importation of this yarn into various countries.
The quantity unit for HS Code 55093200 is kilograms (KG). This is the standard unit of measurement used when importing or exporting goods classified under this HS code. It helps in accurately determining the quantity of yarn being traded.
There are several special tariff preference programs associated with HS Code 55093200, which offer various benefits and preferential treatment for certain countries. These programs aim to promote trade and economic cooperation between countries. Here are some of the programs and their respective details:
These special tariff preference programs allow for reduced or duty-free rates when importing yarn classified under this HS code from the mentioned countries. It is important for importers and exporters to be aware of these programs in order to take advantage of the benefits they offer.
HS Code 55093200 is applicable to the importation and exportation of yarn made of acrylic or modacrylic staple fibers in various US states. While the data provided does not specify any particular importing or exporting states, it can be assumed that this HS code is used for trade activities involving yarn in different states across the United States.
understanding HS Code 55093200 is crucial for importers, exporters, and traders involved in the textile industry. This code specifically pertains to yarn made of acrylic or modacrylic staple fibers and carries a bound duty rate of 10%. Additionally, there are special tariff preference programs in place for certain countries, offering reduced or duty-free rates. By having a comprehensive understanding of this HS code, businesses can navigate the international trade landscape more effectively and make informed decisions regarding the importation and exportation of yarn.