The HS Code 54023260 refers to multiple or cabled textured yarn (except sewing thread) made of polyamides. This yarn is classified under the category of single yarn with a decitex of more than 500. It is important to note that this product is not intended for retail sale.
When it comes to international trade, countries often impose tariffs or trade barriers to protect their domestic industries. However, through the Most Favored Nation (MFN) principle, countries are required to lower their trade barriers or open up their markets for the same goods or services from all their trading partners. In the case of HS Code 54023260, the bound or MFN duty rate is 8%. This means that countries importing or exporting this product will have to pay a duty rate of 8%.
The unit of quantity for HS Code 54023260 is kilograms (KG). This provides a standard measurement for trading and ensures accurate calculation of import or export quantities.
There are also special tariff preference programs applicable to HS Code 54023260. These programs offer preferential treatment in terms of duty rates for specific countries. The following countries enjoy a duty-free rate for importing or exporting this product: Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Morocco, Mexico (under NAFTA), Oman, Dominican Republic-Central America (under DR-CAFTA), Peru, and Singapore.
It is worth mentioning that the United States is both an importing and exporting country for HS Code 54023260. This means that the United States both imports and exports multiple or cabled textured yarn of polyamides under this HS Code. The specific states involved in the import and export of this product may vary depending on market demand and production capabilities.
HS Code 54023260 represents multiple or cabled textured yarn made of polyamides. It is subject to an 8% duty rate under the MFN principle, and the unit of quantity is kilograms. Several countries enjoy duty-free treatment for importing or exporting this product. The United States is actively involved in both importing and exporting this product under HS Code 54023260.