In the world of international trade, each product is assigned a unique code known as the Harmonized System (HS) code. These codes are used to classify and identify goods for customs purposes. HS Code 99045247 refers to cotton fibers that have been processed but not yet spun into yarn.
The specific sub-category of this product is 5203.00.30, which further defines the type of cotton fibers. It is important to note that this HS code is subject to a value safeguard period, meaning that certain measures have been put in place to protect the domestic industry. This safeguard period applies when the value of the imported cotton fibers falls within the range of $0.30 to $0.399 per kilogram.
When it comes to international trade, countries have the authority to set different duty rates for imported goods. In the case of HS Code 99045247, the bound or Most Favored Nation (MFN) duty rate is 5.2 cents per kilogram. The MFN duty rate is the standard rate applied to all trading partners, ensuring equal treatment for all countries.
The quantity unit for this product is kilograms (KG). This means that the weight of the cotton fibers will be measured in kilograms when imported or exported.
There are also special tariff preference programs in place that can affect the duty rate for HS Code 99045247. In the case of Israel, a special rate called "Free (IL)" applies. This means that cotton fibers imported from Israel will receive duty-free treatment, providing a beneficial arrangement for trade between the United States and Israel.
When considering the importing and exporting of HS Code 99045247, it is important to be aware of the specific regulations and requirements of different US states. Each state may have its own rules and procedures for the importation and exportation of goods, including cotton fibers.
Similarly, the exporting US states also play a role in the trade of HS Code 99045247. Depending on the location of the exporter, additional regulations or documentation may be required for the shipment of cotton fibers.
HS Code 99045247 represents processed cotton fibers that have not yet been spun into yarn. This code is subject to a value safeguard period and carries a bound or MFN duty rate of 5.2 cents per kilogram. Additional special tariff preference programs, such as the duty-free treatment for imports from Israel, may also apply. Understanding the regulations and requirements of specific US states is crucial when importing or exporting this product.