In the world of international trade, each product is assigned a unique HS code known as the Harmonized System code. The HS code 56075025 refers to a specific type of twine made of synthetic fibers. This article will provide an extensive overview of the product description, duty rates, quantity unit, special tariff preference programs, and the importing/exporting US states associated with HS code 56075025.
The product described by HS code 56075025 is a 3- or 4-ply multicolor twine made of synthetic fibers. This twine contains at least 10% cotton and has an "S" twist. Its diameter is less than 3.5 mm, and it is not braided or plaited. The multicolor aspect of the twine adds aesthetic value and makes it suitable for various applications.
For imports classified under HS code 56075025, the bound / MFN (Most Favored Nation) duty rate is 7%. The MFN principle ensures that whenever a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This duty rate is applicable regardless of the country of origin.
The quantity unit for HS code 56075025 is kilograms (KG). This means that the weight of the twine, when imported or exported, is measured in kilograms.
Various special tariff preference programs are available for imports classified under HS code 56075025. These programs offer reduced or duty-free rates for eligible countries. The following is a breakdown of the special tariff preference programs:
These programs allow eligible countries to enjoy preferential tariff rates, encouraging trade between nations and promoting economic growth.
When it comes to imports and exports of products classified under HS code 56075025, the following US states are commonly involved:
Virginia plays a significant role in the trade of this particular product, acting as both an importing and exporting state.
HS code 56075025 represents a specific type of multicolor twine made of synthetic fibers. Its product description, duty rates, quantity unit, special tariff preference programs, and involvement of importing/exporting US states are crucial aspects to consider for businesses engaged in international trade. Understanding these details is essential for efficient import/export operations and compliance with trade regulations.