When it comes to international trade, it is important to have a standardized system in place to classify products. This is where HS codes come into play. HS Code 60012100 specifically refers to knitted or crocheted looped pile fabrics of cotton. In this article, we will explore this HS code in more detail, including its product description, duty rates, quantity unit, and special tariff preference programs.
HS Code 60012100 pertains to fabrics made from cotton that are knitted or crocheted and have a looped pile construction. Loop pile fabrics are characterized by loops of yarn that create a textured surface. These fabrics can be used in various applications, including apparel, home furnishings, and industrial uses.
The bound or most-favored-nation (MFN) duty rate for HS Code 60012100 is 9.8%. The MFN duty rate is the rate applied to a product when a country lowers a trade barrier or opens up a market. It is important to note that this duty rate applies to the same goods or services from all trading partners of the country.
The quantity unit for HS Code 60012100 is measured in square meters (M2). This unit is used to determine the quantity of the fabric being imported or exported.
There are several special tariff preference programs applicable to HS Code 60012100. These programs provide preferential duty rates or duty-free treatment for imports and exports of the specified goods. The following countries or regions have special rates for this HS code:
In addition to the special rates mentioned above, there are specific rates for certain countries:
HS Code 60012100 applies to the import and export of knitted or crocheted looped pile fabrics of cotton in the United States. This means that any state within the US can engage in the trade of these goods, whether importing or exporting.
Overall, HS Code 60012100 plays a crucial role in classifying and regulating the trade of knitted or crocheted looped pile fabrics of cotton. Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS code is essential for businesses and individuals involved in international trade.