Woven fabrics are essential components in various industries, providing durability, versatility, and aesthetic appeal. One such type of woven fabric is HS Code 54076990, which comprises polyester filaments and offers a wide range of applications. In this comprehensive article, we will delve into the product description, duty rates, quantity units, special tariff preference programs, and the importing/exporting states in the United States.
HS Code 54076990 represents woven fabrics that contain 85% or more by weight of polyester filaments. These fabrics are classified as "not elsewhere specified or included" (nesoi) due to their unique characteristics and specific manufacturing processes. Additionally, these woven fabrics undergo a printing process, enhancing their visual appeal and enabling various design possibilities.
Woven fabrics with polyester filaments are known for their exceptional strength, durability, and resistance to wrinkles and shrinking. These properties make them suitable for a wide range of applications, including apparel, home textiles, upholstery, and technical textiles.
When it comes to international trade, countries often implement trade barriers or protect their domestic industries through tariffs. However, under the Most Favored Nation (MFN) principle, every time a country lowers a trade barrier or opens up a market, it must apply the same treatment to all its trading partners for the same goods or services.
HS Code 54076990 attracts a bound MFN duty rate of 14.9%. This means that countries importing woven fabrics with polyester filaments classified under this HS code must pay a tariff of 14.9% of the product's value. It is important to note that the duty rate may vary based on the specific country's trade policies and agreements.
The quantity unit for HS Code 54076990 is square meters (M2). This unit of measurement is commonly used in the textile industry to determine the area of the woven fabric. It provides a standardized basis for calculating the quantity and pricing of the product during international trade transactions.
To foster trade relationships and encourage global commerce, various countries participate in special tariff preference programs. These programs offer preferential duty rates or even duty-free treatment for specific products, including woven fabrics with polyester filaments under HS Code 54076990.
The following countries and regions extend special tariff preferences for this HS code:
These special tariff preference programs aim to reduce the financial burden on importers and promote trade cooperation between the participating countries.
HS Code 54076990 is relevant not only for international trade but also for domestic trade within the United States. The importing and exporting states play a crucial role in the distribution and availability of woven fabrics with polyester filaments.
While the exact data on importing and exporting states is not provided, it is important to note that various states in the US contribute to the supply chain of these fabrics. States known for their textile manufacturing capabilities, such as North Carolina, South Carolina, California, and Texas, are likely to play a significant role in both importing and exporting woven fabrics with polyester filaments.
HS Code 54076990 encompasses woven fabrics containing polyester filaments, offering durability, versatility, and attractive designs. With a bound MFN duty rate of 14.9%, this HS code promotes fair trade practices. Additionally, special tariff preference programs and the involvement of different US states contribute to the global availability and trade of these fabrics. Whether used in fashion, interior design, or technical applications, woven fabrics with polyester filaments continue to be sought after in various industries.