HS Code 50072000: Woven Fabrics Containing 85% or More by Weight of Silk or Silk Waste
Woven fabrics made from silk or silk waste are classified under HS Code 50072000. This code is used to identify and classify products for international trade. It is important for importers and exporters to be familiar with HS codes as they help facilitate smooth customs procedures, determine duty rates, and provide information about special tariff preference programs.
Product Description:
Fabrics falling under HS Code 50072000 are those that contain 85 percent or more by weight of silk or silk waste, excluding noil silk. These fabrics are typically used for various applications such as clothing, upholstery, home furnishings, and accessories. The high percentage of silk content in these fabrics ensures a luxurious feel and appearance.
Bound / MFN Duty Rate:
The bound or Most Favored Nation (MFN) duty rate for products classified under HS Code 50072000 is free. This means that countries are not required to pay any import duties when trading these fabrics. The MFN duty rate is applicable to all trading partners and remains the same regardless of the country of origin.
Quantity Unit:
The quantity unit for fabrics classified under HS Code 50072000 is measured in square meters (M2). This unit of measurement helps in determining the quantity of fabric being imported or exported.
Special Tariff Preference Programs:
Certain countries have special tariff preference programs in place that offer duty-free treatment for products falling under HS Code 50072000. These programs aim to promote trade and economic cooperation between countries. The countries that offer special tariff preferences for woven fabrics containing silk or silk waste include Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Morocco, Mexico (under NAFTA), Oman, the Dominican Republic (under DR-CAFTA), Peru, and Singapore.
Importing and Exporting US States:
The import and export of fabrics classified under HS Code 50072000 are not restricted to specific US states. These fabrics can be traded between any state in the United States. Whether it's importing silk fabrics from California or exporting them from New York, businesses can engage in trade activities without any state-specific limitations.
HS Code 50072000 represents woven fabrics containing 85 percent or more by weight of silk or silk waste. Understanding this code is crucial for importers and exporters as it helps in determining duty rates, accessing special tariff preference programs, and facilitating international trade. Whether it's for fashion, home decor, or other applications, these silk fabrics add elegance and sophistication to various products.
More on HS code 50072000
