The HS Code 70194070 refers to woven fiberglass tire cord fabric of roving, over 30 cm wide, colored, and of electric non-conductive continuous filament with a diameter of 9-11 microns, and impregnated for adhesion.
This particular HS code is used to classify and identify a specific type of fabric used in the manufacturing of tires. It is an important code that helps in the proper categorization and documentation of international trade in this particular product.
When it comes to trade, every country has its own set of rules and regulations. In order to ensure fair trade practices, countries use the Harmonized System (HS) code to classify and identify products. The HS code is a standardized system developed by the World Customs Organization (WCO) to facilitate international trade by providing a uniform classification of goods.
The HS Code 70194070 provides a detailed description of the woven fiberglass tire cord fabric, including its dimensions, color, and filament diameter. It also specifies that the fabric is impregnated for adhesion, which is an important characteristic for its use in tire manufacturing.
One of the key aspects of the HS Code 70194070 is the bound / MFN duty rate. The bound duty rate refers to the maximum rate of duty that a country can impose on the import of a particular product. The Most Favored Nation (MFN) duty rate, on the other hand, is the rate that a country applies to imports from its most favored trading partners.
In the case of the HS Code 70194070, the bound / MFN duty rate is free. This means that there are no import duties imposed on this product when it is imported into a country. This is good news for exporters and importers of woven fiberglass tire cord fabric, as it allows for easier and more cost-effective trade.
Additionally, the HS Code 70194070 is eligible for special tariff preference programs in certain countries. These programs provide additional benefits and incentives for the import of this product into those countries. Some of the countries that offer special tariff preference programs for this HS code include Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Morocco, Mexico (under NAFTA), Oman, the Dominican Republic (under DR-CAFTA), Peru, and Singapore.
It is important for both importers and exporters to be aware of these special tariff preference programs, as they can significantly impact the cost and competitiveness of their trade. By taking advantage of these programs, businesses can reduce or eliminate import duties and gain a competitive edge in the market.
the HS Code 70194070 is used to classify woven fiberglass tire cord fabric used in the manufacturing of tires. This code provides a detailed description of the fabric and its characteristics, as well as information on the bound / MFN duty rate and special tariff preference programs. By understanding and utilizing this code, businesses can ensure smooth and cost-effective trade in this product.