The HS Code 55109040 refers to yarn made of artificial staple fibers mixed mainly or solely with synthetic staple fibers. This type of yarn is not intended for retail sale and is commonly used in various industries such as textile manufacturing, garment production, and home furnishings.
The product description specifies that this yarn is not sewing thread, which means it is primarily used for weaving or knitting purposes. It is a versatile material that can be used to create a wide range of textile products, including clothing, upholstery, carpets, and more.
The HS Code is an internationally recognized system for classifying and categorizing traded goods. It provides a standardized way to identify and classify products for customs and trade purposes. The code consists of six digits, with additional digits added for more specific product descriptions.
When importing or exporting goods, it is essential to correctly identify and classify the products using the appropriate HS code. This helps ensure that the correct duties, taxes, and regulations are applied to the goods during international trade.
The bound or most-favored-nation (MFN) duty rate for HS Code 55109040 is 10.6%. This means that countries must apply this duty rate to the importation of this yarn unless they have specific trade agreements or preferential tariff programs in place.
Some countries have special tariff preference programs in effect for this HS code. For example, Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, Singapore, and the Dominican Republic-Central American countries (under DR-CAFTA) offer duty-free or reduced-duty treatment for this product. Morocco, on the other hand, applies a special rate of 1% for its imports of this yarn.
The quantity unit for this HS code is kilograms (KG). This unit of measurement is commonly used in international trade to quantify the weight or quantity of goods being imported or exported.
Importing and exporting of goods under HS Code 55109040 can occur between various US states and other countries. The specific exporting and importing US states will vary based on trade flows and market demand.
Overall, HS Code 55109040 represents a specific type of yarn made of artificial and synthetic fibers, primarily used in textile manufacturing. Understanding and correctly classifying this code is essential for accurate trade documentation, customs clearance, and compliance with international trade regulations.