The HS Code 55163110 refers to woven fabrics of artificial staple fibers that contain less than 85% of such fibers and are mixed mainly or solely with wool or fine animal hair. These fabrics can be either unbleached or bleached, and are classified as "not elsewhere specified or included".
This HS code is used to identify and categorize this specific type of fabric in international trade. It is an important code for customs authorities and traders as it helps in determining the applicable tariff rates and trade regulations for these products.
The product description for HS Code 55163110 is as follows:
The bound or most-favored-nation (MFN) duty rate for HS Code 55163110 is 12%. This means that whenever a country lowers a trade barrier or opens up a market, it has to apply this duty rate to the same goods or services from all its trading partners. The MFN duty rate ensures non-discrimination in international trade.
The quantity unit for HS Code 55163110 is square meters (M2). This unit is used to measure the area of the woven fabrics being imported or exported.
There are several special tariff preference programs applicable to HS Code 55163110. These programs offer reduced or duty-free rates for specific countries. The details of these programs are as follows:
Under these programs, the specified countries can enjoy preferential treatment in terms of lower tariff rates when importing or exporting the specified woven fabrics of artificial staple fibers.
HS Code 55163110 is relevant for all importing states in the United States. This means that any state within the US can import woven fabrics of artificial staple fibers classified under this HS code.
Similarly, HS Code 55163110 is relevant for all exporting states in the United States. This means that any state within the US can export woven fabrics of artificial staple fibers classified under this HS code.
HS Code 55163110 represents woven fabrics of artificial staple fibers mixed with wool or fine animal hair. It is important for trade classification, determining tariff rates, and accessing special tariff preference programs. Understanding this HS code helps traders and customs authorities in facilitating international trade of these specific fabrics.