HS Code 60029080: Knitted or Crocheted Fabrics N.E.S.O.I, Containing Elastomeric Yarn or Rubber Thread
Knitted or crocheted fabrics are versatile materials used in a wide range of applications, from clothing and accessories to home furnishings and industrial uses. These fabrics are created by interlocking loops of yarn, resulting in a flexible and stretchable textile product. One specific HS Code that pertains to knitted or crocheted fabrics is 60029080.
HS Code 60029080 refers to knitted or crocheted fabrics not elsewhere specified or included, with a width not exceeding 30 cm, and containing 5% or more elastomeric yarn or rubber thread. This HS Code excludes fabrics made of cotton, as they fall under a different classification.
When importing or exporting products classified under HS Code 60029080, it is essential to be aware of the various trade regulations and tariff rates associated with the code. The bound or Most Favored Nation (MFN) duty rate for this particular HS Code is 8%. The MFN duty rate signifies that every time a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners.
The quantity unit for this HS Code is kilograms (KG), which is a common measurement used in international trade. It is important to accurately declare the weight of the goods when filing customs documentation.
Additionally, there are special tariff preference programs available for products classified under HS Code 60029080. These programs provide preferential treatment in terms of duty rates for specific countries. Some of the special tariff preference programs applicable to this HS Code are as follows:
1. Free Trade Agreements:
- Bahrain Special Rate
- Canada (duty-free treatment) under NAFTA
- Chile Special Rate
- Israel Special Rate (duty-free treatment)
- Jordan Special Rate
- Mexico (duty-free treatment) under NAFTA
- Dominican Republic-Central American Special Rate (DR-CAFTA)
- Peru Special Rate
- Singapore Special Rate
2. Australia Special Rate: 3%
3. Morocco Special Rate: 0.8%
4. Oman Special Rate: 4.8%
These special tariff preference programs aim to promote trade and economic cooperation between countries by reducing or eliminating import duties on specific products. Importers and exporters should carefully review the eligibility criteria and requirements for these programs to take advantage of the reduced duty rates.
When importing or exporting products classified under HS Code 60029080 to or from the United States, it is also crucial to consider the specific importing and exporting states involved. The regulations and requirements may vary depending on the states involved, and it is essential to comply with all relevant laws and procedures.
HS Code 60029080 pertains to knitted or crocheted fabrics not elsewhere specified or included, containing elastomeric yarn or rubber thread. Understanding the trade regulations, tariff rates, and special tariff preference programs associated with this HS Code is crucial for importers and exporters. By adhering to these regulations and taking advantage of preferential treatment, businesses can optimize their trade operations and enhance their competitiveness in the global market.
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