When it comes to international trade, it is essential to have a standardized system for classifying goods. This is where the Harmonized System (HS) code comes into play. The HS code is a globally recognized system used to classify products for customs and statistical purposes. In this article, we will delve into the details of HS Code 55163210, which pertains to woven fabrics of artificial staple fibers, mixed mainly/solely with wool or fine animal hair, dyed, nesoi.
Product Description:
Bound / MFN Duty Rate:
Quantity Unit:
Special Tariff Preference Programs:
Special Tariff Preference Programs Detail:
Importing US States:
HS Code 55163210 covers a specific type of woven fabrics made from artificial staple fibers, mixed mainly or solely with wool or fine animal hair. These fabrics are dyed and fall under the category of "not elsewhere specified or included" (nesoi). The HS code provides a standardized classification for these fabrics, making it easier for customs authorities and trade organizations to identify and track them.
The bound or most-favored-nation (MFN) duty rate for products falling under HS Code 55163210 is 12%. This means that when importing or exporting these fabrics, a duty of 12% of the product's value will be imposed. It is important to note that the MFN duty rate remains the same for all trading partners of a country. This ensures fairness and equal treatment in international trade.
The quantity unit for HS Code 55163210 is square meters (M2). This unit of measurement is commonly used for textiles, including woven fabrics. It provides a standardized way to quantify the area of fabrics being imported or exported.
Various special tariff preference programs are available for products classified under HS Code 55163210. These programs offer reduced or eliminated duty rates for specific countries or regions. For example, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, the Dominican Republic-Central American countries (under DR-CAFTA), Peru, and Singapore enjoy duty-free treatment for these fabrics. Australia has a special rate of 3%, while Morocco has a special rate of 1.2%. These preferential tariff programs promote trade and economic cooperation between countries.
While the data provided does not specify the importing and exporting US states for HS Code 55163210, it is important to consider the trade flows between different states. Certain states in the US may have a higher demand for these fabrics due to their textile industries or fashion markets. Exporting US states may include regions with textile manufacturing capabilities or areas with a surplus of these fabrics.
HS Code 55163210 covers woven fabrics of artificial staple fibers, mixed mainly or solely with wool or fine animal hair, dyed, nesoi. This HS code facilitates the classification, tracking, and regulation of these fabrics in international trade. The bound duty rate is 12%, and special tariff preference programs offer reduced or duty-free treatment for specific countries. Understanding the details of HS Code 55163210 is crucial for importers, exporters, and customs authorities involved in the global textile trade.