In international trade, products are classified using a system called the Harmonized System (HS). Each product is assigned a specific code known as the HS code, which is standardized worldwide. The HS code 55099960 refers to yarn made from synthetic staple fibers that are not meant for retail sale.
This article will provide an extensive overview of HS Code 55099960, including its product description, duty rates, quantity unit, special tariff preference programs, and importing/exporting US states.
The product description of HS Code 55099960 is "Yarn (other than sewing thread) of synthetic staple fibers nesoi, not put up for retail sale." This means that the yarn is made from synthetic staple fibers and is not intended to be sold directly to consumers. It is likely used as a raw material in various industries, such as textile manufacturing.
The bound / MFN (Most Favored Nation) duty rate for HS Code 55099960 is 13.2%. The MFN principle ensures 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 applies to the import of this specific yarn into a country.
The quantity unit for HS Code 55099960 is kilograms (KG). This means that the yarn is measured and traded based on its weight in kilograms.
HS Code 55099960 is eligible for various special tariff preference programs in different countries. These programs provide preferential treatment in terms of duty rates for specific trading partners. The special tariff preference programs applicable to HS Code 55099960 are as follows:
These countries have either duty-free treatment or a preferential duty rate for the import of yarn falling under HS Code 55099960.
HS Code 55099960 can be imported into and exported from various states within the United States. The specific states involved in the import and export of this yarn may vary based on trade patterns and market demand. It is important for businesses and traders to be aware of the regulations and requirements of the states they operate in.
HS Code 55099960 represents yarn made from synthetic staple fibers that are not intended for retail sale. This article provided a comprehensive overview of the HS code, including its product description, duty rates, quantity unit, special tariff preference programs, and information about importing/exporting US states. Understanding the HS code and its associated details is crucial for international trade and compliance with customs regulations.