Woven badges and similar articles of textile materials, classified under HS code 58071020, refer to badges made of fabric that are not embroidered. These badges can be in the form of individual pieces, strips, or cut to specific shapes or sizes. It is important to note that this HS code specifically excludes labels.
When it comes to international trade, countries often impose duties on imported goods to protect their domestic industries. The bound or most-favored-nation (MFN) duty rate for products classified under HS code 58071020 is 3.3%. This means that every time 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.
The quantity unit for products classified under HS code 58071020 is kilograms (KG). This unit is used to measure the weight of the woven badges and similar textile articles.
There are also special tariff preference programs in place for products classified under HS code 58071020. These programs provide preferential treatment in terms of duty rates for specific countries. Here is a breakdown of the special tariff preference programs:
These special tariff preference programs provide significant benefits for both importers and exporters of woven badges and similar textile articles. Importers from countries such as Bahrain, Canada, Chile, Israel, Japan, Jordan, Mexico, Oman, Panama, Peru, Singapore, and the European Union can enjoy duty-free treatment. Meanwhile, importers from Australia only have to pay a 2.9% duty rate, and importers from Morocco have a minimal duty rate of 0.3%.
It is important for both importing and exporting US states to be aware of these special tariff preference programs. Exporters from the US can take advantage of the duty-free or reduced duty rates when exporting woven badges and similar textile articles to the countries mentioned above.
To summarize, HS code 58071020 refers to woven badges and similar articles of textile materials that are not embroidered. These badges can be in the form of individual pieces, strips, or cut to specific shapes or sizes. The bound or MFN duty rate for this HS code is 3.3%. However, there are special tariff preference programs in place that provide duty-free or reduced duty treatment for certain countries. Importers and exporters should be aware of these programs to optimize their trade opportunities.