When it comes to international trade, the Harmonized System (HS) Code plays a crucial role in identifying and classifying products. One such code is HS Code 59032030, which refers to textile fabrics that are not elsewhere specified or included, and are impregnated, coated, covered, or laminated with polyurethane. In this article, we will explore the details of this HS code and its implications for international trade.
HS Code 59032030 pertains to textile fabrics that have undergone a specific treatment process involving polyurethane. This treatment enhances the fabric's properties, making it more durable, water-resistant, and versatile. The polyurethane coating provides an additional layer of protection, making these fabrics suitable for a wide range of applications.
The bound or Most Favored Nation (MFN) duty rate for HS Code 59032030 is 2.7%. This rate is applicable every time a country lowers a trade barrier or opens up a market. It ensures that the same goods or services from all trading partners receive equal treatment, promoting fair and non-discriminatory trade practices.
The quantity unit for HS Code 59032030 is measured in square meters (M2). This unit is used to determine the area of the textile fabric, allowing for accurate measurement and calculation of quantities during international trade transactions.
HS Code 59032030 is eligible for various special tariff preference programs. These programs offer preferential treatment and reduced duty rates for specific countries. The following countries have special rates for this HS code:
These tariff preferences aim to facilitate trade and promote economic cooperation between countries. By offering lower or duty-free rates, they incentivize importers and exporters to engage in trade activities, fostering economic growth and development.
While there is no specific information available regarding the exporting US states for HS Code 59032030, it is essential to note that this code has been imported into the state of New Mexico multiple times. This suggests that there is demand for textile fabrics impregnated, coated, covered, or laminated with polyurethane in the state of New Mexico.
Overall, HS Code 59032030 plays a significant role in international trade by categorizing and facilitating the movement of textile fabrics impregnated, coated, covered, or laminated with polyurethane. Its associated duty rates, quantity unit, and special tariff preference programs provide valuable information for importers, exporters, and policymakers alike. Understanding and leveraging the benefits of this HS code can contribute to the growth and success of international trade in this specific product category.