The HS Code 55099920 refers to a specific classification for the import and export of yarn made from synthetic staple fibers, which is mixed mainly or solely with artificial staple fibers. This type of yarn is in the form of singles and is not intended for retail sale.
When it comes to international trade, countries often impose import duties on certain goods to protect their domestic industries or generate revenue. The bound or most-favored-nation (MFN) duty rate for HS Code 55099920 is 9%. This means that every time a country lowers a trade barrier or opens up a market, it has to apply the same duty rate for the same goods or services from all its trading partners.
The quantity unit for HS Code 55099920 is kilograms (KG), indicating that the measurement for importing or exporting this yarn is based on weight.
There are also special tariff preference programs in place for HS Code 55099920. Some countries offer duty-free treatment for this product, including Australia (AU), Bahrain (BH), Canada (CA) under NAFTA (North American Free Trade Agreement), Chile (CL), Israel (IL), Jordan (JO), Mexico (MX) under NAFTA, Oman (OM), Panama (P), Peru (PE), and Singapore (SG). These countries have established preferential trade agreements that eliminate or reduce import duties for this specific product.
Additionally, Morocco (MA) offers a special rate of 0.9% for importing HS Code 55099920. This means that Moroccan importers will have to pay a lower duty rate compared to the standard 9% for this particular product.
It is important to note that the list of importing and exporting US states for HS Code 55099920 is not provided in the given data. However, it is worth mentioning that the United States is a significant player in international trade, and this HS Code classification would be applicable for imports and exports involving various states within the country.
HS Code 55099920 represents a specific category for the import and export of yarn made from synthetic staple fibers, mixed mainly or solely with artificial staple fibers. The bound or MFN duty rate is 9%, and the quantity unit is kilograms (KG). Various countries offer special tariff preference programs for this product, including duty-free treatment and reduced duty rates. It is essential for businesses involved in international trade to understand and comply with the regulations and requirements associated with HS Code 55099920.