When it comes to international trade, it is essential to have a standardized system for classifying goods. The Harmonized System (HS) Code provides this classification, enabling countries to categorize and identify products for customs and statistical purposes. One such HS Code is 58012100, which pertains to uncut weft pile fabrics of cotton.
The product description for HS Code 58012100 specifies that it applies to uncut weft pile fabrics made of cotton. However, it is important to note that this HS Code excludes fabrics falling under headings 5802 or 5806. This means that fabrics falling under those specific headings have their own distinct HS Codes for classification.
Now let's dive into the various aspects related to HS Code 58012100.
For goods classified under HS Code 58012100, the bound / most-favored-nation (MFN) duty rate is 20.2%. The MFN principle states that whenever 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 ensures that countries provide equal treatment to all their trading partners.
The quantity unit for goods classified under HS Code 58012100 is square meters (M2). This unit of measurement is used to determine the quantity or size of the uncut weft pile fabrics of cotton being imported or exported.
Depending on the country and trade agreements in place, goods classified under HS Code 58012100 may be eligible for special tariff preference programs. These programs offer reduced or duty-free rates for imports and exports. Here are some examples of special tariff preference programs applicable to HS Code 58012100:
These special tariff preference programs aim to promote trade and economic cooperation between countries by providing incentives for specific goods.
HS Code 58012100 applies not only to international trade but also to trade within the United States. When it comes to importing and exporting goods classified under this HS Code, certain US states are involved. In the case of HS Code 58012100, the importing US state is Georgia, and the exporting US state is also Georgia.
It is worth noting that the involvement of specific US states in the import and export of goods classified under HS Code 58012100 may be influenced by various factors such as production centers, transportation infrastructure, and market demand.
HS Code 58012100 pertains to uncut weft pile fabrics of cotton, excluding fabrics falling under headings 5802 or 5806. This HS Code carries a bound / MFN duty rate of 20.2% and is measured in square meters (M2). Depending on the country and applicable trade agreements, special tariff preference programs may offer reduced or duty-free rates for imports and exports. When it comes to the United States, the importing and exporting US states for HS Code 58012100 are both Georgia.