When it comes to international trade, understanding the Harmonized System (HS) codes is crucial. These codes are used to classify and identify products being traded across borders. In this article, we will explore the HS code 59032018, which refers to textile fabrics specified in note 9 to section XI, made of man-made fibers and impregnated, coated, covered or laminated with polyurethane. Let's dive into the details of this HS code and its implications in international trade.
The HS code 59032018 refers to textile fabrics made of man-made fibers that have been treated with polyurethane. This treatment involves impregnating, coating, covering, or laminating the fabric with polyurethane to enhance its properties. Polyurethane is a versatile material known for its durability, flexibility, and resistance to water and abrasion. By applying polyurethane to textile fabrics, the resulting products gain improved strength, performance, and longevity. These fabrics find applications in various industries, including apparel, footwear, upholstery, and technical textiles.
The bound or most-favored nation (MFN) duty rate for HS code 59032018 is 8%. This means that whenever a country lowers its trade barriers or opens up its market, it must apply the same 8% duty rate for the import of textile fabrics impregnated, coated, covered, or laminated with polyurethane from all its trading partners. This duty rate ensures fairness and equal treatment among trading nations, promoting free and fair trade practices.
The quantity unit for HS code 59032018 is square meters (M2). This unit of measurement is used to determine the area of the textile fabric being traded. It provides a standardized way to quantify the amount of fabric being imported or exported, allowing for accurate trade data and calculations.
Several countries have special tariff preference programs in place for the import of textile fabrics impregnated, coated, covered, or laminated with polyurethane. These programs offer reduced or duty-free rates to promote trade and economic cooperation. Here are some examples:
These special tariff preference programs aim to facilitate trade between the countries involved by reducing or eliminating import duties. Importers and exporters should take advantage of these programs to enjoy cost savings and boost their competitiveness in the global market.
While specific information about the importing US states is not provided in the data, it is worth noting that the HS code 59032018 applies to textile fabrics imported into the United States. As an example, let's consider New Mexico as a representative state.
New Mexico, located in the southwestern region of the United States, has a diverse economy with various industries that could utilize textile fabrics impregnated, coated, covered, or laminated with polyurethane. These fabrics can be used in the manufacturing of clothing, footwear, automotive interiors, and other applications. Importing textile fabrics under HS code 59032018 can support local businesses and contribute to the state's economic growth.
The HS code 59032018 covers textile fabrics made of man-made fibers that have been impregnated, coated, covered, or laminated with polyurethane. Understanding this HS code is essential for importers, exporters, and anyone involved in international trade. By knowing the product description, bound duty rate, quantity unit, special tariff preference programs, and potential importing US states, businesses can make informed decisions and leverage the opportunities offered by this specific HS code.