When it comes to international trade, it is essential to have a standardized system in place to identify and classify products. This is where the Harmonized System (HS) code comes into play. Each product is assigned a unique HS code, which helps streamline trade processes and provide accurate information about the goods being imported or exported.
In this article, we will delve into the details of HS Code 55163405, which refers to woven fabrics of artificial staple fibers. Specifically, this code applies to fabrics that contain less than 85% of artificial staple fibers and at least 36% of wool or fine animal hair. Additionally, these fabrics are printed, adding an aesthetic touch to their appearance.
The HS code is not just a random number; it carries important information about the product and its characteristics. By understanding the HS code, importers and exporters can ensure compliance with trade regulations and take advantage of any applicable tariff preferences or special programs.
HS Code 55163405 covers woven fabrics made of artificial staple fibers, with wool or fine animal hair content of at least 36%. These fabrics are printed, which means that they feature various designs or patterns. The combination of artificial fibers with wool or fine animal hair creates a unique blend that offers both comfort and durability.
When importing products, it is crucial to be aware of the applicable duty rates. For HS Code 55163405, the bound / MFN (Most Favored Nation) duty rate is 19.7%. 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.
The quantity unit for HS Code 55163405 is square meters (M2). This measurement indicates the area of the fabric being imported or exported. It provides a standardized unit for calculating quantities and helps in determining the cost and logistics of the trade.
Several countries participate in special tariff preference programs for HS Code 55163405, offering reduced or zero-duty rates. Here are some of the special rates applicable to this HS code:
These special tariff preference programs provide valuable opportunities for importers and exporters to benefit from reduced or eliminated duties, making the trade more cost-effective and competitive.
HS Code 55163405 is applicable to imports and exports to and from various US states. The specific states involved in trade for this HS code may vary depending on market demand and supply. Importers and exporters should closely monitor the trading activities of the following US states:
These states have shown a significant interest in the import and export of woven fabrics of artificial staple fibers with wool or fine animal hair.
HS Code 55163405 refers to woven fabrics made of artificial staple fibers, containing at least 36% of wool or fine animal hair, and printed. Understanding this HS code is crucial for importers and exporters, as it helps ensure compliance, determine duty rates, and take advantage of special tariff preference programs. By staying informed about the specific details and requirements related to HS Code 55163405, businesses can navigate the international trade landscape more effectively.