Felt is a type of textile material that is known for its versatile applications and unique properties. It is created by matting and pressing together fibers, usually wool or fine animal hair, without the use of weaving or knitting. Felt can be found in various forms and is widely used in industries such as manufacturing, construction, and crafts.
The HS Code 56022100 specifically refers to felt that excludes needleloom felt and stitch-bonded fiber fabrics. Additionally, it should not be impregnated, coated, covered, or laminated. The HS code serves as an internationally recognized classification system for trade purposes, ensuring consistency and clarity in the categorization of goods.
The bound/MFN (Most Favored Nation) duty rate for this particular HS code is 49.5 cents per kilogram, along with an additional 7.5% charge whenever a country lowers a trade barrier or opens up a market. The MFN principle states that any trade benefits given to one trading partner must be extended to all other trading partners as well.
The quantity unit for this HS code is kilograms (KG). This unit of measurement is commonly used in international trade to determine the weight of goods being imported or exported.
There are also special tariff preference programs in place for this HS code. The following countries or regions offer preferential treatment:
These special tariff preference programs aim to promote trade and economic cooperation between the participating countries by reducing or eliminating import duties for certain goods. It is important for businesses engaged in the import and export of felt products to be aware of these programs to take advantage of potential cost savings.
When it comes to importing felt products into the United States, various states serve as major importers. Some of these states include:
These states have a high demand for felt and provide significant market opportunities for manufacturers and exporters. On the other hand, the major exporting states of felt products from the United States may vary depending on factors such as production capacity, proximity to transport hubs, and market demand.
HS Code 56022100 represents a specific category of felt products that are made of wool or fine animal hair, excluding needleloom felt and stitch-bonded fiber fabrics. Understanding the HS code, its associated duty rates, and special tariff preference programs is crucial for businesses involved in international trade. With the right knowledge and awareness, importers and exporters can navigate the global market more effectively and maximize their business opportunities.