The HS Code 51071030 refers to yarn made of combed wool, which contains at least 85% or more by weight of wool. This type of yarn is not put up for retail sale and has a wool fiber average diameter of 18.5 microns or less. Let's explore more about this HS code and its implications.
The bound or Most Favored Nation (MFN) duty rate for HS Code 51071030 is 6%. This means that whenever a country lowers a trade barrier or opens up a market, it must apply the same duty rate for the same goods or services from all its trading partners. This helps ensure fair trade practices and equal treatment for all countries involved.
The quantity unit for HS Code 51071030 is kilograms (KG). This indicates that the measurement for the import or export of this yarn is based on weight in kilograms.
There are also special tariff preference programs associated with HS Code 51071030. These programs offer different duty rates for specific countries. The following countries have duty-free treatment for this HS code: Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Peru, and Singapore. These countries enjoy preferential treatment when importing or exporting yarn of combed wool under this HS code.
Additionally, there are specific duty rates for certain countries. Morocco has a special rate of 0.6% for this HS code, while Oman has a special rate of 4.8%. These rates may vary based on bilateral agreements or trade arrangements between the countries involved.
When it comes to importing, the United States is a significant market for HS Code 51071030. Multiple states within the United States engage in importing this yarn, contributing to its demand and trade volume. Likewise, exporting US states play a crucial role in supplying this yarn to international markets.
HS Code 51071030 represents yarn made of combed wool, containing at least 85% or more by weight of wool. It is not put up for retail sale and has a specific average diameter of wool fibers. The duty rates associated with this HS code are subject to the MFN principle, ensuring equal treatment for all trading partners. Special tariff preference programs offer duty-free treatment or specific rates for certain countries. Importing and exporting US states are significant players in the trade of this yarn. Understanding the details of HS Code 51071030 helps facilitate international trade and promotes transparency in customs procedures.