Buttons may seem like a small and insignificant item, but they play a crucial role in the fashion and textile industry. They not only serve as functional fasteners for clothing but also contribute to the overall aesthetic appeal of garments. HS Code 96062140 specifically refers to buttons made of acrylic resin, polyester resin, or a combination of both, which are not covered with textile material.
The HS Code system is an internationally recognized classification system used to categorize goods for import and export purposes. Each HS Code represents a specific product or group of products, allowing for easy identification and classification during international trade transactions.
When it comes to importing buttons of acrylic or polyester resin (HS Code 96062140) into the United States, certain regulations and duty rates apply. The bound or Most Favored Nation (MFN) duty rate for this product is 0.3 cents per line per gross, along with a 4.6% duty rate. This means that for every line of buttons, a duty of 0.3 cents per gross (144 buttons) must be paid, in addition to a 4.6% duty based on the value of the goods.
It's important to note that trade barriers and market openings can affect the duty rates for specific goods. According to the principle of non-discrimination, whenever 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 ensures fair and equal treatment for all countries involved in international trade.
The quantity unit for buttons made of acrylic or polyester resin is gross (GRS). Gross refers to a unit of measurement equal to 144 items. This unit helps streamline the calculation and tracking of quantities during import and export processes.
Now, let's explore the special tariff preference programs associated with HS Code 96062140. These programs provide certain countries with preferential treatment or duty-free access to the US market for buttons made of acrylic or polyester resin:
These special tariff preference programs aim to promote trade and economic cooperation between the United States and specific countries or regions. By granting duty-free treatment or preferential rates, these programs incentivize trade and contribute to the growth of various industries, including the fashion and textile sector.
HS Code 96062140 represents buttons made of acrylic resin, polyester resin, or a combination of both, which are not covered with textile material. Understanding the HS Code, associated duty rates, and special tariff preference programs is essential for importers, exporters, and businesses operating in the fashion and textile industry. By complying with these regulations and leveraging preferential trade programs, companies can navigate international trade more effectively and promote economic growth.