The HS Code 51072030 refers to yarn made of combed wool, which contains less than 85 percent by weight of wool. This type of yarn is not put up for retail sale and is made from wool fiber with an average diameter of 18.5 microns or less.
When importing or exporting goods classified under this HS code, it is important to be aware of the specific trade regulations and requirements. One such requirement is the bound or Most Favored Nation (MFN) duty rate, which is set at 6%. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners.
The quantity unit for this HS code is measured in kilograms (KG). This means that the weight of the yarn is calculated in kilograms when determining import or export quantities.
There are also special tariff preference programs available for this HS code. These programs offer reduced or duty-free rates for importing countries. The following countries have special tariff rates for HS Code 51072030:
It is important for importers and exporters to be aware of these special tariff rates and take advantage of them when trading goods classified under HS Code 51072030. By utilizing these special tariff preference programs, businesses can reduce their import costs and increase their competitiveness in the global market.
When importing goods classified under HS Code 51072030 into the United States, it is also important to consider the specific importing and exporting states. The exporting states refer to the countries from which the goods are being exported, while the importing states refer to the states within the United States where the goods are being imported.
By understanding the regulations, special tariff preference programs, and the specific importing and exporting states, businesses can effectively navigate the international trade market for yarn made of combed wool. The HS Code 51072030 provides a standardized classification system that ensures consistency and transparency in global trade.