When it comes to international trade, it is essential to have a standardized system for classifying goods. The Harmonized System (HS) provides a universally recognized code for each product, ensuring that goods can be classified correctly and traded efficiently. In this article, we will delve into the details of HS Code 55152100, which pertains to woven fabrics of acrylic or modacrylic staple fibers, mixed mainly or solely with man-made filaments, not elsewhere specified or included.
HS Code 55152100 encompasses a wide range of woven fabrics made from acrylic or modacrylic staple fibers. These fibers are synthetic and are often blended with man-made filaments to enhance their properties. The fabrics can be used in various applications, including clothing, upholstery, and home furnishings.
One crucial aspect of international trade is the determination of duty rates. The bound or Most Favored Nation (MFN) duty rate for HS Code 55152100 is free. This means that whenever a country lowers a trade barrier or opens up its market, it must offer the same treatment to all its trading partners for this specific product. This promotes fair and non-discriminatory trade practices.
The unit of quantity for HS Code 55152100 is square meters (M2). This unit provides a standardized measure for the fabric's area, facilitating accurate trade transactions and calculations.
Additionally, there are special tariff preference programs in place for HS Code 55152100. These programs offer specific duty rates for importing countries that have established trade agreements or preferences with the exporting country. For this HS code, the following special tariff preference programs apply:
These special tariff preference programs aim to promote trade between specific countries and provide economic benefits to the parties involved.
Importers and exporters of HS Code 55152100 must also consider the specific regulations and requirements of the importing and exporting US states. These states may have additional restrictions or documentation requirements for the import or export of woven fabrics of acrylic or modacrylic staple fibers.
HS Code 55152100 plays a crucial role in international trade, providing a standardized classification system for woven fabrics of acrylic or modacrylic staple fibers. Understanding the HS code and its associated duty rates and special tariff preference programs is essential for importers and exporters in order to comply with trade regulations and take advantage of preferential treatment.