When it comes to international trade, a standardized system is essential for the classification of goods. The Harmonized System (HS) Code is a globally recognized system that helps in the identification and classification of products. In this article, we will explore HS Code 99045206, which pertains to a specific type of cotton.
The product described under HS Code 99045206 is cotton. However, it is important to note that it specifically refers to cotton that is not carded or combed and has a staple length under 28.575 mm. This classification helps in distinguishing this particular type of cotton from others.
The HS Code further specifies that this cotton is categorized under code 5201.00.18. This code is part of the broader HS Code system, which provides a detailed classification for various products based on their characteristics and intended use.
Additionally, it is mentioned that this particular type of cotton falls under the value safeguard period. This indicates that there are specific regulations and measures in place to protect the value and interests associated with this product.
The price range for this cotton is stated as $1.15-$1.245 per kilogram. This information provides an idea of the expected cost associated with importing or exporting this product.
For HS Code 99045206, the bound / MFN duty rate is specified as 5.6 cents per kilogram. This rate applies every time a country lowers a trade barrier or opens up a market. It ensures that the same goods or services from all trading partners are subject to the same duty rate.
This duty rate helps in promoting fair and equitable trade practices by ensuring that all countries are treated equally when it comes to import and export duties. It also encourages countries to maintain a level playing field and avoid any discriminatory practices.
The quantity unit for HS Code 99045206 is kilograms (KG). This unit provides a standard measurement for the weight of the cotton being imported or exported. It enables accurate record-keeping and facilitates smooth trade transactions.
Special tariff preference programs may exist for products classified under HS Code 99045206. These programs offer certain advantages or benefits to importers or exporters, such as reduced duty rates or exemptions.
However, it is important to note that the availability and eligibility criteria for these programs may vary depending on the country and trade agreements in place. Importers and exporters should thoroughly research and understand the specific programs applicable to their trade transactions.
HS Code 99045206 is relevant to both importing and exporting activities involving the United States. The specific states involved in these activities may vary depending on market demand and trade relationships.
When importing this cotton into the United States, importers need to comply with the customs regulations and procedures established by the US government. Similarly, when exporting this cotton from the United States, exporters need to adhere to the regulations and requirements of the destination country.
It is crucial for importers and exporters to stay informed about any changes or updates in trade policies, tariffs, and regulations to ensure smooth and compliant trade operations.
HS Code 99045206 pertains to cotton that is not carded or combed and has a staple length under 28.575 mm. This code provides a standardized classification for this specific type of cotton, enabling accurate identification and trade transactions. Understanding the details and implications of this HS Code is crucial for importers, exporters, and other stakeholders involved in the global cotton trade.