Upland cotton is a highly sought-after commodity in the global market. Its versatility and high-quality fibers make it a valuable resource for various industries. In the United States, the import and export of upland cotton are regulated by specific codes, including HS Code 99035221.
HS Code 99035221 refers to a specific category of upland cotton that falls within the limitations set by the Special Cotton Import Quota Announcement No. 21. This code is essential for accurately identifying and classifying upland cotton shipments in international trade.
The Bound / MFN (Most Favored Nation) duty rate associated with HS Code 99035221 is determined by the quantity specified in the special announcement. It is crucial to note that when 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 principle ensures fair and equal treatment in international trade.
The specific quantity unit for HS Code 99035221 is not available (NA). However, it is important to understand that this code refers to upland cotton imports within the specified limitations of the Special Cotton Import Quota Announcement No. 21 for a 180-day period.
Under special tariff preference programs, imports of upland cotton under HS Code 99035221 are subject to a 10% duty rate. This preference applies to Canada under the NAFTA (North American Free Trade Agreement) for duty-free treatment. This means that Canadian importers can enjoy reduced tariffs when importing upland cotton under this code.
When it comes to importing upland cotton under HS Code 99035221, the United States has various states involved in the process. The exporting US states refer to the regions within the US that produce and export upland cotton, while the importing US states are the regions that receive and consume these cotton imports.
Upland cotton plays a vital role in the textile and apparel industries. Its strong and durable fibers make it ideal for producing a wide range of products, such as clothing, home textiles, and industrial materials. The use of HS Code 99035221 ensures proper identification and classification of upland cotton imports, allowing for efficient trade and supply chain management.
HS Code 99035221 is a significant code for importing upland cotton within the specified limitations of the Special Cotton Import Quota Announcement No. 21. Understanding and adhering to this code is crucial for importers, exporters, and various stakeholders involved in the upland cotton trade.