In international trade, the Harmonized System (HS) Code is used to classify and identify goods. Each product has a unique HS Code, which helps in simplifying trade procedures and ensuring uniformity in trade statistics. One such HS Code is 55095160, which pertains to yarn made of polyester staple fibers mixed mainly or solely with artificial staple fibers.
The product description for HS Code 55095160 is "Yarn (not sewing thread) of polyester staple fibers mixed mainly/solely with artificial staple fibers, multiple, not put up for retail sale." This means that the yarn made from polyester and artificial fibers is not intended for sewing purposes and is not packaged for individual retail sale.
The bound or Most Favored Nation (MFN) duty rate for HS Code 55095160 is 10.6%. The MFN duty rate is the rate applied to imports from one country to another, and it is usually the maximum rate allowed under World Trade Organization (WTO) agreements. This means that any country importing yarn with this HS Code will be subject to a duty rate of 10.6%.
The quantity unit for HS Code 55095160 is kilograms (KG). This means that the measurement and pricing of the yarn will be based on weight in kilograms.
In addition to the MFN duty rate, there are also special tariff preference programs in place for this HS Code. Some countries offer preferential treatment or lower duty rates for imports of yarn with HS Code 55095160. The following countries have special tariff preference programs for this product:
These special tariff preference programs allow for duty-free treatment or lower duty rates for imports of yarn with HS Code 55095160 from specific countries. This can provide a competitive advantage for exporters from these countries and may incentivize trade in this product.
When it comes to importing yarn with HS Code 55095160, there are no specific restrictions on the importing US states. Any state within the United States can import this product without facing additional regulatory barriers or restrictions.
Overall, HS Code 55095160 represents a specific type of yarn made from polyester and artificial fibers. It is not intended for sewing purposes and is not packaged for individual retail sale. The bound or MFN duty rate for this product is 10.6%, but there are special tariff preference programs in place that offer duty-free treatment or lower duty rates for imports from certain countries. This information can be useful for importers, exporters, and policymakers involved in international trade.