Woven fabrics are an essential component of numerous industries, ranging from fashion and textiles to home furnishings and industrial applications. HS Code 54076920 specifically refers to woven fabrics that contain 85% or more by weight of polyester filaments and are dyed. This code helps to categorize and identify these fabrics for import and export purposes, ensuring smooth international trade.
The bound or most-favored-nation (MFN) duty rate for HS Code 54076920 is set at 14.9%. This means that every time a country lowers a trade barrier or opens up a market, it must apply the same duty rate for similar goods or services from all its trading partners. This ensures fair and equal treatment in international trade.
The quantity unit for HS Code 54076920 is square meters (M2). This unit of measurement helps to quantify the amount of woven fabric being imported or exported, providing a standardized basis for trade transactions.
Several special tariff preference programs exist for HS Code 54076920. These programs offer reduced or duty-free rates for specific countries. Bahrain (BH), Canada (CA), Chile (CL), Israel (IL), Jordan (JO), Mexico (MX), Oman (OM), Panama (P), Peru (PE), and Singapore (SG) all enjoy duty-free treatment for imports of woven fabrics under this HS code. Australia (AU) benefits from a reduced duty rate of 3%, while Morocco (MA) enjoys a reduced duty rate of 1.5%.
It is important to note that these special tariff preference programs are subject to change and should be verified with the relevant authorities before importing or exporting under HS Code 54076920.
When it comes to importing HS Code 54076920 into the United States, various states play a significant role. Some of the top importing states for these woven fabrics include California, New York, Texas, Florida, and Illinois. These states have well-established textile and fashion industries that rely on the importation of materials like polyester filament fabrics.
On the other hand, it is also essential to consider the exporting states in the United States for HS Code 54076920. States such as North Carolina, South Carolina, California, Georgia, and Texas are known for their textile manufacturing capabilities and contribute significantly to the export of woven fabrics containing polyester filaments.
HS Code 54076920 plays a crucial role in international trade, facilitating the import and export of woven fabrics containing polyester filaments. Understanding the details and implications of this code is essential for businesses and individuals involved in the textile and related industries.