When it comes to international trade, it is important to have a standardized system to classify and identify products. The Harmonized System (HS) Code is an internationally recognized system used to classify traded goods. Each HS Code represents a specific product or group of products, making it easier for countries to track and regulate trade.
One such HS Code is 55159990, which represents woven fabrics of synthetic staple fibers. However, it is important to note that this HS Code specifically excludes fabrics made of polyester, acrylic, or modacrylic staple fibers.
The HS Code 55159990 has a bound or most favored nation (MFN) duty rate of 8.5%. 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. This promotes fair and equal trade practices among countries.
The quantity unit for this HS Code is measured in square meters (M2). This allows for easy measurement and calculation of the amount of fabric being traded.
In addition to the standard duty rate, there are also special tariff preference programs associated with HS Code 55159990. These programs offer different rates or even duty-free treatment for certain countries. The following are some examples of these special tariff preference programs:
Additionally, there are specific rates for certain countries under these special tariff preference programs:
It is important for importers and exporters to be aware of these special rates and programs, as they can significantly impact the cost and competitiveness of their products in the global market.
When it comes to importing HS Code 55159990 into the United States, there are no specific restrictions on the importing states. This means that woven fabrics of synthetic staple fibers (excluding polyester, acrylic, or modacrylic) can be imported into any state within the United States.
On the other hand, when exporting HS Code 55159990 from the United States, there are also no specific restrictions on the exporting states. This allows for seamless trade between different states within the country.
HS Code 55159990 represents woven fabrics of synthetic staple fibers (excluding polyester, acrylic, or modacrylic). It has a bound or MFN duty rate of 8.5%, which promotes fair and equal trade practices. The quantity unit for this HS Code is measured in square meters (M2). There are also special tariff preference programs that offer different rates or even duty-free treatment for certain countries. Importing and exporting this HS Code within the United States does not have any specific state restrictions, allowing for smooth trade between states.