When it comes to international trade, it is essential to have a standardized system that enables the smooth flow of goods and services across borders. The Harmonized System (HS) Code is a globally recognized classification system that assigns unique codes to products. In this article, we will delve into the details of HS Code 59069125 and explore its product description, duty rates, quantity unit, special tariff preference programs, and the importing and exporting US states.
HS Code 59069125 represents rubberized textile fabrics that are knitted or crocheted and made from man-made fibers. However, it excludes fabrics falling under HS Code 5902. These fabrics must not contain more than 70% of rubber or plastics by weight. The code provides a specific classification for these textile materials, making it easier for customs authorities and traders to identify and categorize them accurately.
When importing products, duty rates are an important consideration for traders. The bound / MFN (Most Favored Nation) duty rate for HS Code 59069125 is 7.5%. The MFN principle ensures 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 promotes fair and equal trade practices among nations.
The quantity unit for HS Code 59069125 is square meters (M2). This unit of measurement is commonly used for textile fabrics, allowing for accurate calculation and pricing based on the area of the fabric required.
Some countries have special tariff preference programs in place that offer reduced or duty-free rates for certain products. HS Code 59069125 is eligible for various special tariff preference programs. The details are as follows:
These special tariff preference programs provide traders with opportunities to access these markets with reduced or zero-duty rates, making their products more competitive and affordable in these countries.
HS Code 59069125 is imported into the United States, specifically the state of New Mexico. This indicates that there is a demand for rubberized textile fabrics in this particular region. On the other hand, the exporting US states for this HS Code are not specified in the provided data.
It is worth noting that the HS Code 59069125 represents a specific category of rubberized textile fabrics made from man-made fibers. Traders and customs authorities can refer to this code to ensure accurate classification and proper application of duty rates and tariff preferences. Understanding the details of HS Code 59069125 is crucial for international trade, enabling smooth and efficient cross-border transactions.