HS Code 55132900 refers to woven fabrics made of synthetic staple fibers, which are fibers of short length, mixed mainly or solely with cotton. These fabrics are dyed and weigh not more than 170g/m2. The code is used to classify and identify these specific types of fabrics for import-export purposes.
The bound or Most Favored Nation (MFN) duty rate for HS Code 55132900 is 14.9%. The MFN principle states that whenever 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 means that the duty rate applies uniformly to all countries importing or exporting fabrics falling under this HS code.
The quantity unit for HS Code 55132900 is square meters (M2). This unit is used to measure and calculate the quantity of fabrics being imported or exported under this code.
There are also special tariff preference programs available for fabrics classified under HS Code 55132900. These programs offer reduced or duty-free rates for specific countries. The special tariff preference programs for this HS code are as follows:
When importing products classified under HS Code 55132900 into the United States, importers need to comply with the relevant regulations and requirements set by the U.S. Customs and Border Protection. Similarly, when exporting these products from the United States, exporters need to follow the necessary procedures and documentation required by the destination country.
HS Code 55132900 plays a crucial role in international trade as it allows for the proper classification, identification, and regulation of woven fabrics of synthetic staple fibers mixed mainly or solely with cotton. Understanding the HS code and its related information is essential for importers, exporters, customs authorities, and other stakeholders involved in the global textile industry.