The HS Code 55109060 refers to yarn made from artificial staple fibers that are not intended for retail sale. This code is used to classify and identify this specific type of product for import and export purposes. Understanding the HS code is essential for both traders and customs officials to ensure accurate classification and proper taxation.
The product description of HS Code 55109060 clearly states that it applies to yarn made from artificial staple fibers. Yarn is a continuous strand of textile fibers used for various purposes, such as knitting, weaving, or embroidery. In this case, the yarn is specifically made from artificial staple fibers, which are short fibers made to mimic natural fibers like cotton or wool.
The code further specifies that this yarn is not intended for retail sale. This means that it is typically used for industrial or commercial purposes, such as in textile manufacturing or other similar industries. It is important to differentiate this type of yarn from sewing thread, as sewing thread has its own separate HS code.
When it comes to international trade, the HS code plays a crucial role in determining the applicable duty rates. The bound or most-favored-nation (MFN) duty rate for HS Code 55109060 is 13.2%. The MFN principle states that every time a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This ensures fair and equal treatment for all countries involved in global trade.
The quantity unit for this HS code is kilograms (KG). This means that the weight of the yarn is measured in kilograms for import and export purposes. It is important to accurately declare the weight of the goods to calculate duties, shipping costs, and other logistical considerations.
Additionally, HS Code 55109060 is eligible for special tariff preference programs in certain countries. The following countries offer a special rate or duty-free treatment for this product:
When importing or exporting products classified under HS Code 55109060, it is essential to be aware of the specific regulations and requirements of both the importing and exporting countries. These regulations can include documentation, labeling, packaging, and other compliance measures to ensure smooth and legal trade operations.
HS Code 55109060 refers to yarn made from artificial staple fibers that are not intended for retail sale. This code is used for accurate classification, taxation, and regulation of this specific product in international trade. Understanding the HS code and its associated details is crucial for importers, exporters, and customs officials to facilitate smooth and compliant trade transactions.