Twine, cordage, rope, and cables made of wide nonfibrillated strip, using materials such as polyethylene or polypropylene, are classified under HS Code 56074910. This code is used to identify and categorize these products for international trade purposes.
When importing or exporting goods, it is essential to understand the HS code to ensure compliance with customs regulations and determine the applicable duty rates. In the case of HS Code 56074910, the bound or Most Favored Nation (MFN) duty rate is 2.7%. This means that whenever a country reduces trade barriers or opens up its market, it must do so for all its trading partners concerning the same goods or services.
The quantity unit for this HS code is kilograms (KG). This unit of measurement is used to quantify the weight of the twine, cordage, rope, or cables being imported or exported.
There are also special tariff preference programs associated with HS Code 56074910. Some countries may offer preferential treatment, including duty-free access or reduced duty rates, for products classified under this code. The following countries have special tariff preference programs for HS Code 56074910:
These special tariff preference programs aim to promote trade and economic cooperation between countries by providing certain benefits to specific goods or trading partners.
When it comes to importing HS Code 56074910 products into the United States, various states engage in trade. One of the states involved in exporting these goods is Virginia.
Understanding the details and implications of HS Code 56074910 is crucial for businesses and individuals involved in the international trade of twine, cordage, rope, and cables made of polyethylene or polypropylene. Compliance with customs regulations, knowledge of applicable duty rates, and awareness of special tariff preference programs can help facilitate smooth and cost-effective trade transactions.