When it comes to international trade, it is important to have a standardized system for classifying and identifying products. The Harmonized System (HS) Code is a globally recognized system that assigns a unique code to each product, making it easier for countries to track and regulate trade. In this article, we will explore the HS Code 60054200, which refers to dyed warp knit fabrics of artificial fibers.
Dyed warp knit fabrics are a type of textile made using a specific knitting technique called warp knitting. This technique creates a fabric with a distinct pattern and texture, perfect for various applications in the fashion and garment industry. The fabrics covered under HS Code 60054200 are specifically those made on galloon knitting machines.
It is important to note that HS Code 60054200 specifically excludes fabrics made of artificial fibers falling under headings 6001 to 6004. These headings cover different types of fabrics, such as woven fabrics, knitted or crocheted fabrics, and other textile materials. Therefore, if a fabric falls under any of these headings, it would have a different HS Code.
Now let's delve into the various aspects of HS Code 60054200:
The bound or Most Favored Nation (MFN) duty rate for products classified under HS Code 60054200 is 10%. The MFN duty rate represents the maximum rate at which a country can impose import duties on a particular product. This means that no country can impose a higher duty rate on dyed warp knit fabrics of artificial fibers than 10%. However, countries are free to impose a lower duty rate or even eliminate import duties altogether for these products.
It is important to note that trade agreements and special tariff preference programs can further impact the duty rates for products under HS Code 60054200. Let's explore some of these programs:
It is important for importers and exporters to be aware of these special tariff preference programs as they can significantly impact the cost of importing or exporting dyed warp knit fabrics of artificial fibers.
The quantity unit for HS Code 60054200 is kilograms (KG). This means that the weight of the dyed warp knit fabrics of artificial fibers, when imported or exported, should be measured and declared in kilograms. This unit of measurement helps in accurately determining the quantity and value of the goods being traded.
HS Code 60054200 applies to trade not only between countries but also within the United States. When importing or exporting dyed warp knit fabrics of artificial fibers under this HS Code, it is important to consider the specific regulations and requirements of the importing and exporting US states.
Each US state may have its own rules and regulations regarding the import and export of textiles, including dyed warp knit fabrics of artificial fibers. It is essential for traders to familiarize themselves with these regulations to ensure compliance and smooth trade operations.
HS Code 60054200 is a specific code that classifies dyed warp knit fabrics of artificial fibers. This code helps in standardizing the classification and identification of these fabrics, making it easier for countries to regulate and track international trade. Importers and exporters should be aware of the bound duty rate, special tariff preference programs, quantity unit, and specific regulations of importing and exporting US states when dealing with products under this HS Code.