Warp knit fabric is a versatile material used in various industries for its durability and flexibility. This article focuses on HS Code 60059090, which specifically refers to warp knit fabric that is not made of wool/fine animal hair, cotton, or manmade fiber. Let's explore the details and implications of this HS code.
HS Code 60059090 encompasses warp knit fabric made on galloon knit machines. It excludes fabrics made of wool/fine animal hair, cotton, or manmade fibers falling under headings 6001-6004. This code is essential for customs and trade purposes, ensuring accurate categorization and tracking of these specific types of fabrics.
When it comes to trade barriers and market openings, countries often impose duty rates. The bound / MFN (Most Favored Nation) duty rate for HS Code 60059090 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. This duty rate helps regulate fair trade practices and maintain a level playing field.
The quantity unit for HS Code 60059090 is kilograms (KG). This unit of measurement is used to determine the weight of the warp knit fabric being imported or exported. It ensures consistency and accuracy in calculating the quantity of fabric involved in trade transactions.
Various countries have special tariff preference programs that offer different rates for importing HS Code 60059090. These programs aim to facilitate trade and promote economic partnerships. Here are some examples:
Additionally, Australia (AU) offers a 3% tariff rate, Morocco (MA) offers a 1% tariff rate, and Oman (OM) offers a 6% tariff rate for importing HS Code 60059090.
HS Code 60059090 applies to both importing and exporting warp knit fabric in the United States. It is important to note that this HS code does not specify any particular states for import or export. It is applicable nationwide, allowing businesses and individuals across the country to engage in trade involving this specific type of fabric.
HS Code 60059090 plays a crucial role in categorizing and tracking warp knit fabric that is not made of wool/fine animal hair, cotton, or manmade fiber. The bound / MFN duty rate, quantity unit, and special tariff preference programs associated with this HS code ensure fair trade practices and facilitate international trade. Understanding and adhering to this HS code is essential for importers, exporters, and customs authorities to ensure smooth and compliant trade transactions.