HS Code 55101200: An Extensive Guide to Yarn (other than sewing thread) Containing 85% or More Artificial Staple Fibers
In international trade, the Harmonized System (HS) Code is a standardized system for classifying products. Each product is assigned a unique HS code, which helps facilitate trade by providing a common language for customs authorities and traders. In this article, we will delve into the details of HS Code 55101200, which pertains to yarn (other than sewing thread) containing 85% or more by weight of artificial staple fibers, multiple or cabled, not put up for retail sale.
Product Description:
- HS Code: 55101200
- Product: Yarn (other than sewing thread)
- Composition: Contains 85% or more by weight of artificial staple fibers
- Structure: Multiple or cabled
- Packaging: Not put up for retail sale
Bound / MFN Duty Rate:
- Rate: 10.6%
- Explanation: The bound or most-favored-nation (MFN) duty rate is the maximum rate that a country can impose on imports. It ensures 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.
Quantity Unit:
Special Tariff Preference Programs:
- Free (AU, BH, CA, CL, IL, JO, MX, OM, P, PE, SG)
- 1% (MA)
Details:
- Free: Australia Special Rate, Bahrain Special Rate, NAFTA for Canada (duty-free treatment), Chile Special Rate, Israel Special Rate (duty-free treatment), Jordan Special Rate, NAFTA for Mexico, Oman Special Rate, Dominican Republic-Central American Special Rate (DR-CAFTA), Peru Special Rate, Singapore Special Rate
- 1%: Morocco Special Rate
Importing US States:
- List of states importing HS Code 55101200 (Yarn): [Insert relevant data]
Exporting US States:
- List of states exporting HS Code 55101200 (Yarn): [Insert relevant data]
Conclusion:
HS Code 55101200 refers to yarn (other than sewing thread) containing 85% or more artificial staple fibers. This code plays a crucial role in international trade by providing a standardized classification system for customs authorities and traders. Understanding the product description, duty rates, quantity units, and special tariff preference programs associated with this HS code can help businesses navigate the complexities of global trade more effectively.
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