Woven fabrics of flax are classified under HS Code 53092920. This HS code specifically refers to fabrics made from flax that contain less than 85% flax by weight and more than 17% wool or fine animal hair. It is important to note that these fabrics should not be unbleached or bleached.
When importing or exporting products classified under HS Code 53092920, it is essential to understand the relevant information such as the bound / MFN duty rate, quantity unit, and special tariff preference programs.
The bound / MFN duty rate for woven fabrics of flax under HS Code 53092920 is 14.5%. This means that every time 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 is applicable to the value of the imported fabric.
The quantity unit for woven fabrics of flax under HS Code 53092920 is square meters (M2). This unit is used to measure the area of the fabric being imported or exported.
There are several special tariff preference programs that offer benefits for importing products classified under HS Code 53092920:
Under these programs, certain countries provide preferential treatment for imported woven fabrics of flax, either by offering duty-free treatment or by applying a reduced duty rate of 1.5% (in the case of Morocco).
For example, Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, and Singapore offer duty-free treatment for woven fabrics of flax under HS Code 53092920. This means that importers from these countries can enjoy cost savings by importing these fabrics without incurring any duty charges.
On the other hand, Morocco applies a reduced duty rate of 1.5% for woven fabrics of flax under HS Code 53092920. Importers from Morocco can benefit from this reduced duty rate, which helps in reducing the overall import costs.
When it comes to importing woven fabrics of flax under HS Code 53092920, there are no specific restrictions or preferences for particular US states. Importers from any US state can import these fabrics without any state-specific limitations.
Similarly, there are no specific restrictions or preferences for exporting woven fabrics of flax under HS Code 53092920 to particular US states. Exporters from any US state can export these fabrics to any US state without any state-specific limitations.
HS Code 53092920 refers to woven fabrics of flax containing less than 85% flax and over 17% wool or fine animal hair. Importers and exporters of these fabrics should be aware of the bound / MFN duty rate, quantity unit, and special tariff preference programs. By understanding these details, businesses can effectively navigate the import and export processes and take advantage of any available tariff benefits.