Woven fabrics of artificial staple fibers are an important category of textiles that are widely used in various industries. These fabrics are made from artificial fibers that are processed into staple form and then woven to create different types of textiles. HS Code 55161200 specifically refers to woven fabrics of artificial staple fibers, containing 85% or more by weight of such fibers, and dyed.
When it comes to international trade, understanding the HS code is crucial as it helps in identifying and classifying different products for import and export. The HS code 55161200 is used to categorize and track the trade of these woven fabrics of artificial staple fibers.
The bound / MFN (Most Favored Nation) duty rate for HS Code 55161200 is 14.9%. 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 duty rate is applicable to all countries unless they have specific tariff preference programs in place.
The quantity unit for HS Code 55161200 is square meters (M2). This unit is used to measure the area of the woven fabrics being imported or exported. It helps in determining the quantity and value of the goods being traded.
There are also several special tariff preference programs available for HS Code 55161200. These programs provide preferential treatment in terms of duty rates for specific countries. The following are the special tariff preference programs for this HS code:
These special tariff preference programs allow certain countries to import or export woven fabrics of artificial staple fibers at reduced or zero duty rates. It promotes trade and economic cooperation between the participating countries.
Importing and exporting of HS Code 55161200 can take place between various US states and with different countries around the world. The specific states involved in importing this product may vary, depending on the demand and supply chain. Similarly, the exporting US states can also vary, depending on the production and distribution centers for these fabrics.
Overall, HS Code 55161200 plays a crucial role in regulating and facilitating the trade of woven fabrics of artificial staple fibers. It helps in ensuring proper classification, tracking, and implementation of duty rates for these products. Understanding the HS code and its associated information is essential for businesses and individuals involved in the import and export of textiles.