The HS Code 55143033 refers to a specific type of woven fabric made of poly staple fiber, with less than 85% polyester staple fibers. It is mixed mainly or solely with cotton and has a weight of over 170 g/m2. This fabric is made of yarns of different colors and falls under the category of "nesoi" which means "not elsewhere specified or included."
When importing or exporting goods, it is important to know the HS code as it helps in classifying and identifying the products for customs purposes. The HS code is an internationally recognized system used to classify goods and is used by customs authorities worldwide.
The product described by HS Code 55143033 is a woven fabric made of poly staple fiber, mixed mainly or solely with cotton. It has a weight of over 170 g/m2 and is made of yarns of different colors. This fabric is commonly used in the textile industry for various applications such as clothing, upholstery, and home furnishings.
The bound / MFN duty rate for HS Code 55143033 is 12%. The bound duty rate is the maximum rate that a country can impose on imports of a particular product. The MFN (Most Favored Nation) duty rate is the rate applied to imports from all trading partners. This 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 HS Code 55143033 is square meters (M2). This means that the fabric is measured and traded in square meters, which is a common unit for measuring the area of textiles.
There are several special tariff preference programs applicable to HS Code 55143033:
These special tariff preference programs provide certain countries with preferential treatment in terms of duty rates when importing or exporting HS Code 55143033. For example, goods imported from Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, the Dominican Republic (under DR-CAFTA), Peru, and Singapore are eligible for duty-free treatment. Meanwhile, goods imported from Australia are subject to a 3% duty rate, and goods imported from Morocco are subject to a 1.20% duty rate.
HS Code 55143033 can be imported or exported to or from any US state. The specific states involved in the import or export will depend on the trading partners and the demand for the product. The United States is a major player in international trade, and its states engage in various import and export activities with countries around the world.
Understanding the HS code and its associated data is essential for international trade. It helps in correctly classifying products, determining duty rates, and accessing special tariff preference programs. Importers, exporters, and customs authorities rely on the HS code to facilitate smooth and compliant trade.