The HS Code 55099940 refers to yarn (not sewing thread) of synthetic staple fibers that is not elsewhere specified (nesoi), and is mixed mainly or solely with artificial staple fibers. This type of yarn is classified as multiple and is not intended for retail sale.
Yarn is a continuous strand of fibers that are twisted or spun together to form a textile material. Synthetic staple fibers are man-made fibers that are produced through various chemical processes. These fibers are known for their durability, strength, and resistance to wrinkles and shrinkage.
In the case of HS Code 55099940, the yarn is mixed with artificial staple fibers. Artificial staple fibers, also known as regenerated fibers, are produced by converting natural materials, such as wood pulp or bamboo, into a fibrous form. These fibers are often used as a cost-effective alternative to natural fibers.
The HS Code 55099940 is used to classify and regulate the import and export of this particular type of yarn. It helps customs authorities and traders to accurately identify and categorize the goods for customs purposes and international trade statistics.
The bound / MFN (Most Favored Nation) duty rate for HS Code 55099940 is 10.6%. 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. The duty rate is applied based on the value of the imported yarn.
The quantity unit for HS Code 55099940 is kilograms (KG). This unit of measurement is used to determine the weight of the imported or exported yarn.
There are also special tariff preference programs available for imports of yarn classified under HS Code 55099940. These programs provide reduced or duty-free treatment for certain countries. The countries that offer free tariff preference for this HS Code include Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, Singapore. Morocco offers a special rate of 1%.
When importing yarn classified under HS Code 55099940, it is important to consider the regulations and requirements of both the importing and exporting US states. Each state may have its own specific rules and procedures for the import and export of goods, including yarn.
the HS Code 55099940 represents yarn (not sewing thread) of synthetic staple fibers mixed with artificial staple fibers. It is used to classify and regulate the import and export of this particular type of yarn. The duty rate, unit of measurement, and special tariff preference programs are important factors to consider when engaging in international trade involving this HS Code.