HS Code 50079030: Woven Silk Fabrics, Containing 85 Percent or More by Weight of Silk or Silk Waste, NESOI
Woven silk fabrics are exquisite and luxurious textiles that have been cherished for centuries. They are known for their softness, sheen, and smooth texture, making them highly sought after in the fashion and textile industry. The HS Code 50079030 specifically refers to woven silk fabrics that contain 85 percent or more by weight of silk or silk waste, not elsewhere specified or included.
When it comes to international trade, HS codes play a crucial role in classifying products for customs and tariff purposes. The HS Code 50079030 helps customs authorities identify and track the import and export of woven silk fabrics with specific characteristics.
The bound or most-favored-nation (MFN) duty rate for products classified under HS Code 50079030 is 0.8%. This means 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 duty rate ensures fair and equal treatment for all countries involved in trade.
The quantity unit for woven silk fabrics under HS Code 50079030 is measured in square meters (M2). This unit of measurement allows for accurate calculation and estimation of the fabric required for various purposes, such as garment production, interior design, or upholstery.
Additionally, there are special tariff preference programs in place for products classified under HS Code 50079030. These programs offer preferential treatment or duty-free access to certain countries. The following countries participate in these programs for woven silk fabrics:
- Free: Generalized System of Preferences (GSP) provides duty-free treatment.
- Australia: Special Rate.
- Bahrain: Special Rate.
- Canada (NAFTA): Duty-free treatment.
- Chile: Special Rate.
- Caribbean Basin Initiative (CBI): Special Rate.
- Israel: Duty-free treatment.
- Andean Trade Preference Act (ATPA): Special Rate.
- Jordan: Special Rate.
- Morocco: Special Rate.
- Mexico (NAFTA): Duty-free treatment.
- Oman: Special Rate.
- Dominican Republic-Central American (DR-CAFTA): Special Rate.
- Peru: Special Rate.
- Singapore: Special Rate.
These special tariff preference programs aim to promote trade and economic cooperation between countries by reducing or eliminating import duties on specific products. They enhance market access and create opportunities for exporters and importers of woven silk fabrics to expand their business globally.
When importing woven silk fabrics under HS Code 50079030 into the United States, it is essential to consider the specific requirements and regulations of the importing US states. Each state may have its own guidelines and procedures for customs clearance and documentation. Similarly, when exporting woven silk fabrics from the United States, it is crucial to be aware of the requirements and regulations of the exporting US states.
HS Code 50079030 represents woven silk fabrics containing 85 percent or more by weight of silk or silk waste, not elsewhere specified or included. This HS code is essential for classifying, tracking, and regulating the import and export of these exquisite textiles. By understanding the bound duty rate, quantity unit, and special tariff preference programs, importers and exporters can navigate international trade with woven silk fabrics more effectively.
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