Binder or baler twine is an essential product used in various industries for bundling or tying materials together. The HS Code 56074130 specifically refers to binder or baler twine made of polyethylene or polypropylene, not elsewhere specified or included (nesoi). This code helps in identifying and classifying the product for international trade purposes.
Polyethylene and polypropylene are types of thermoplastic polymers known for their excellent strength, durability, and resistance to weathering. Binder or baler twine made from these materials is widely used in agriculture, construction, packaging, and other industries.
The HS Code 56074130 is significant for importers and exporters as it helps in determining the applicable customs duties and trade regulations. Let's explore some key information related to this HS code:
The bound or Most Favored Nation (MFN) duty rate for HS Code 56074130 is 4%. The MFN duty rate applies every time a country lowers a trade barrier or opens up a market. It ensures that the same goods or services from all trading partners receive equal treatment.
The quantity unit for HS Code 56074130 is kilograms (KG). This unit helps in determining the weight of the binder or baler twine being imported or exported.
Several countries offer special tariff preference programs for products classified under HS Code 56074130. These programs provide reduced or duty-free treatment based on specific trade agreements. Here are some notable tariff preference programs:
Importers and exporters should be aware of these special tariff preference programs to take advantage of reduced or duty-free rates, depending on the country of origin or destination.
HS Code 56074130 is relevant for importers in various US states. One of the states where importing binder or baler twine may be common is Virginia.
Overall, the HS Code 56074130 plays a crucial role in facilitating international trade of binder or baler twine made of polyethylene or polypropylene. Importers and exporters should understand the associated duty rates and special tariff preference programs to optimize their trade operations.