When it comes to international trade, it is essential to have a standardized system for classifying goods. The Harmonized System (HS) Code is a globally recognized method of categorizing products, enabling seamless trade between nations. In this article, we will delve into the details of HS Code 60012200, which pertains to knitted or crocheted loop pile fabrics of man-made fibers.
HS Code 60012200 specifically refers to knitted or crocheted loop pile fabrics made from man-made fibers. These fabrics are created using a looped pile technique, resulting in a soft and plush texture. Man-made fibers, such as polyester, nylon, or acrylic, are used to construct these fabrics, offering durability and versatility.
The bound / MFN (Most Favored Nation) duty rate for HS Code 60012200 is 17.2%. The MFN duty rate is the rate applied to imported goods, regardless of their origin. This means 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 ensures fair and equal treatment for all trading nations.
The quantity unit for HS Code 60012200 is square meters (M2). This unit is used to measure the surface area of the knitted or crocheted loop pile fabrics being imported or exported.
HS Code 60012200 is eligible for various special tariff preference programs, offering reduced or duty-free rates for specific countries. Here is a breakdown of some of these programs:
These special tariff preference programs are aimed at promoting trade and fostering economic relationships between countries. They provide incentives for importing and exporting goods, contributing to global trade growth.
HS Code 60012200 is relevant to both importing and exporting activities in the United States. The specific states involved in these transactions may vary, depending on the demand and supply dynamics of knitted or crocheted loop pile fabrics made from man-made fibers.
When importing, US states with textile industries or those with a high demand for such fabrics may be the primary importers. These states can include North Carolina, Georgia, California, Texas, and New York, among others.
On the other hand, when exporting, US states with significant textile manufacturing capabilities may be the main exporters. These states often have well-established textile industries and export their products to various countries worldwide.
Some prominent exporting states for knitted or crocheted loop pile fabrics of man-made fibers may include North Carolina, South Carolina, Georgia, California, and Texas, among others.
HS Code 60012200 plays a crucial role in facilitating international trade of knitted or crocheted loop pile fabrics made from man-made fibers. Understanding the product description, duty rates, special tariff preference programs, and the involvement of specific US states in importing and exporting can greatly assist businesses and policymakers in navigating the global trade landscape.