The HS Code 55111000 refers to yarn made of synthetic staple fibers, which is used for various purposes other than sewing thread. This particular HS code specifies that the yarn must contain 85% or more synthetic staple fibers by weight and be packaged for retail sale.
When importing or exporting products under this HS code, it is important to be aware of the relevant trade barriers and duty rates. The bound / MFN (Most Favored Nation) duty rate for this product is 7.5%, which 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 quantity unit for this product is kilograms (KG), which is the standard unit of measurement for yarn and other textile products.
There are also special tariff preference programs available for this product. In some countries such as Australia, Bahrain, Canada, Chile, Israel, Jordan, Mexico, Oman, Peru, Singapore, and the Dominican Republic-Central American countries, the product is eligible for duty-free treatment. This means that no import duties will be imposed on the yarn when imported into these countries.
In Morocco, however, a special rate of 0.8% will be applied to the imported yarn. It is important to note this difference in tariff preference when trading with Morocco.
When importing this product into the United States, it is important to consider the specific states from which the product is being exported. This information is not provided in the given data, but it is crucial to comply with any state-specific regulations or requirements.
Overall, HS Code 55111000 represents yarn made of synthetic staple fibers, suitable for retail sale. Importing or exporting this product requires an understanding of the relevant duty rates, trade barriers, and any special tariff preference programs that may apply. Compliance with these regulations is essential to facilitate smooth international trade in this product category.