The HS Code 55163310 refers to woven fabrics made of artificial staple fibers, which contain less than 85% of such fiber. These fabrics are mixed mainly or solely with wool or fine animal hair and are made of different colored yarns. The code "nesoi" stands for "not elsewhere specified or included," indicating that this code covers fabrics that do not fall under any other specific category.
When importing goods with this HS Code, it is essential to understand the associated duties and tariff rates. The bound or most-favored-nation (MFN) duty rate for HS Code 55163310 is 12%. The MFN principle states that whenever a country reduces trade barriers or opens up its market, it must apply the same treatment to all its trading partners for the same goods or services.
The quantity unit for this HS Code is measured in square meters (M2). This unit helps in determining the quantity of fabric being imported or exported.
Several special tariff preference programs apply to HS Code 55163310. These programs offer reduced or duty-free rates for specific countries:
It is important to consider these special tariff preference programs when importing or exporting goods with this HS Code, as they can significantly impact the overall cost of the transaction.
When importing goods with HS Code 55163310 into the United States, it is crucial to be aware of the specific states involved in the import process. Similarly, when exporting goods, the destination states should be considered. The specific importing and exporting states can vary depending on the trade agreement or individual business arrangements.
HS Code 55163310 pertains to woven fabrics of artificial staple fibers mixed mainly or solely with wool or fine animal hair. It is important to understand the associated duties, tariff rates, quantity unit, and special tariff preference programs when dealing with this HS Code. Being aware of the importing and exporting states is also crucial for a successful trade transaction.