HS Code 60054300 refers to warp knit fabrics of yarn of different color, including those made on a galloon knitting machine, of artificial fiber. This code excludes fabrics falling under headings 6001-6004.
When it comes to international trade, it is important to understand the HS code system. The Harmonized System (HS) is an internationally recognized standard for classifying traded products. Each product is assigned a unique code, known as the HS code, which is used by customs authorities to determine the applicable duties and tariffs.
For warp knit fabrics of yarn of different color, the HS code 60054300 is used. This code specifically covers fabrics made of artificial fiber, and it includes those produced on a galloon knitting machine. It is important to note that fabrics falling under headings 6001-6004 are not classified under this code.
When importing or exporting goods classified under HS code 60054300, it is essential to be aware of the duty rates and special tariff preference programs associated with this product. The bound or most-favored-nation (MFN) duty rate for this code is 10%. This means 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 warp knit fabrics of yarn of different color is kilograms (KG). This is the standard unit used to measure the weight of the product during import and export processes.
In addition to the duty rate, there are various special tariff preference programs available for this product. These programs offer reduced or duty-free rates for specific countries. For HS code 60054300, the following special tariff preference programs apply:
These special tariff preference programs allow eligible countries to benefit from reduced import duties or duty-free treatment when trading this specific product.
When importing or exporting goods classified under HS code 60054300, it is also important to consider the specific states involved in the trade. The importing and exporting US states play a significant role in the customs and trade procedures. The specific states involved in the import and export of this product can vary depending on the trading partners and shipping routes.
HS code 60054300 refers to warp knit fabrics of yarn of different color made of artificial fiber. This code is used to classify and regulate the import and export of these fabrics. It is important to be familiar with the duty rates and special tariff preference programs associated with this code, as well as the quantity unit and the involvement of specific US states in the trade. By understanding these aspects, importers and exporters can ensure compliance with customs regulations and take advantage of any available trade benefits.