The HS Code 55112000 refers to yarn (other than sewing thread) of synthetic staple fibers, containing less than 85% by weight of such fibers, put up for retail sale. This article will provide a comprehensive overview of this HS Code, including its product description, duty rates, quantity unit, special tariff preference programs, and the importing and exporting US states.
The product description under HS Code 55112000 specifies that it pertains to yarn made of synthetic staple fibers. It is important to note that this code does not include sewing thread. The yarn must contain less than 85% by weight of such fibers and should be packaged for retail sale.
The bound / MFN (Most Favored Nation) duty rate for HS Code 55112000 is 7.5%. The MFN principle states that whenever a country reduces 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 trading partners.
The quantity unit for HS Code 55112000 is kilograms (KG). This means that the measurement of the yarn is done in terms of weight, specifically in kilograms. This is a standard unit used for international trade to facilitate accurate and uniform measurement.
There are several special tariff preference programs associated with HS Code 55112000. The following countries or regions have specific rates or exemptions:
These special tariff preference programs allow for reduced or exempted duty rates when importing or exporting HS Code 55112000 yarn to or from the mentioned countries or regions. It is important for traders to be aware of these programs to take advantage of any cost-saving opportunities.
The importing and exporting of HS Code 55112000 yarn can occur between various US states. The specific states involved in the trade depend on the demand and supply dynamics of the market. The most common US states for importing and exporting this product include:
These states play a significant role in the trade of HS Code 55112000 yarn, either as major consumers or producers. Understanding the market dynamics of these states can provide valuable insights for businesses involved in the yarn trade.
HS Code 55112000 encompasses yarn made of synthetic staple fibers, containing less than 85% by weight of such fibers, and packaged for retail sale. It is important for traders to be aware of the duty rates, quantity units, special tariff preference programs, and the importing and exporting US states associated with this HS Code to effectively navigate the international trade landscape.