When it comes to international trade, the use of Harmonized System (HS) codes is essential for proper classification and identification of goods. In this article, we will delve into the details of HS Code 55131200, which refers to woven 3-or 4-thread twill fabric of poly staple fib, with less than 85% poly staple fiber, mixed mainly or solely with cotton, weighing not more than 170 g/m2, and available in unbleached or bleached form.
HS Code 55131200 is used to categorize and track the import and export of this specific type of fabric. Understanding the details of this code is crucial for businesses involved in the textile industry, as it helps in accurately identifying and classifying the products they deal with.
The product description of HS Code 55131200 provides valuable information about the fabric. It is a woven fabric that is made with either 3 or 4 threads in a twill pattern. The fabric primarily consists of poly staple fibers, which make up less than 85% of the total fiber content. The remaining portion is cotton. The fabric has a maximum weight of 170 g/m2 and can be either unbleached or bleached.
Now, let's take a closer look at the tariff rates associated with HS Code 55131200. The bound or most-favored-nation (MFN) duty rate for this code is 14.9%. The MFN duty rate is the rate applied to all trading partners when a country lowers a trade barrier or opens up a market. This ensures fair treatment for all countries involved in international trade.
The quantity unit for HS Code 55131200 is square meters (M2). This unit is used to measure the area of the fabric being imported or exported. It provides a standardized measurement for trade transactions and facilitates accurate quantity calculations.
In addition to the standard duty rate, there are special tariff preference programs available for HS Code 55131200. These programs offer reduced or duty-free rates for certain countries. The following countries enjoy special tariff preferences for this HS code:
These special tariff preference programs aim to promote trade and economic cooperation between countries by offering favorable conditions for specific goods.
Importing and exporting of products under HS Code 55131200 is not limited to specific US states. It can occur between any US state and any other country. The code serves as a common identifier for customs authorities and traders, ensuring proper classification and accurate documentation.
HS Code 55131200 represents woven 3-or 4-thread twill fabric of poly staple fib, with less than 85% poly staple fiber, mixed mainly or solely with cotton, weighing not more than 170 g/m2, and available in unbleached or bleached form. This code plays a crucial role in international trade, facilitating the classification, tracking, and tariff determination of the fabric. Understanding the details of this code is essential for businesses involved in the textile industry to ensure compliance and efficient trade operations.