When it comes to international trade, it is crucial to have a standardized system to classify and identify different products. This is where the Harmonized System (HS) code comes into play. The HS code is an internationally recognized system of numbers and names used to classify traded products. Each HS code represents a specific product, and it is used by customs authorities around the world to determine the applicable tariffs and regulations for that product.
One such HS code is 58012500, which represents warp pile fabrics, cut, of cotton, other than fabrics of heading 5802 or 5806. Let's delve deeper into the details of this HS code and understand its implications for international trade.
The product covered by HS code 58012500 is warp pile fabrics made of cotton. However, it is important to note that this HS code excludes fabrics of heading 5802 or 5806. Heading 5802 refers to true woven pile fabrics, while heading 5806 refers to narrow woven fabrics, other than goods of heading 5807.
Warp pile fabrics are characterized by a raised surface or pile, which is formed by loops or cut fibers. These fabrics are widely used in various applications, including upholstery, clothing, and home textiles. The use of cotton as the primary material ensures softness, breathability, and durability.
The bound or most-favored-nation (MFN) duty rate for HS code 58012500 is 18.5%. The MFN principle states 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. This ensures fair and non-discriminatory treatment in international trade.
Importers of warp pile fabrics falling under this HS code need to consider the applicable duty rate when calculating the cost of importing these products. It is important to note that duty rates may vary for different countries and may be subject to bilateral or multilateral trade agreements.
The quantity unit for HS code 58012500 is square meters (M2). This means that the measurement and pricing of these fabrics are based on the area covered in square meters. Importers and exporters need to accurately measure the size of the fabric to determine the quantity and cost.
Several countries offer special tariff preference programs for products falling under HS code 58012500. These programs provide preferential treatment in terms of duty rates or even duty-free treatment. Here are some examples:
In addition to these special tariff preference programs, Australia (AU) offers a 3% duty rate, and Morocco (MA) offers a 1.8% duty rate for products classified under HS code 58012500.
While the HS code provides a standardized classification for products, it is also essential to consider the specific import and export regulations of individual countries. In the case of the United States, different states may have varying regulations and requirements for the import and export of products falling under HS code 58012500.
Based on the available data, Georgia is mentioned as both an importing and exporting state for this specific HS code. It is important for businesses involved in international trade to familiarize themselves with the specific regulations and procedures of importing and exporting states in order to comply with all necessary requirements.
HS code 58012500 represents warp pile fabrics, cut, of cotton, other than fabrics of heading 5802 or 5806. This HS code is crucial for classifying and identifying these specific fabrics in international trade. Importers and exporters need to consider the applicable duty rate, quantity unit, and any special tariff preference programs when trading these products. Additionally, understanding the import and export regulations of individual countries, including specific states within those countries, is essential for successful international trade.