Tapestries have been a part of human culture for centuries, serving as both decorative and functional pieces of art. Hand-loomed and folklore hand-woven tapestries, in particular, hold a special place in the world of textile craftsmanship. HS Code 58050020 specifically refers to certified hand-loomed and folklore hand-woven tapestries nesoi (not elsewhere specified or included) and needle-worked tapestries made of wool or fine animal hair.
When it comes to international trade, HS codes play a crucial role in categorizing and identifying specific products. HS Code 58050020 helps customs authorities and traders accurately classify and track these unique tapestries, ensuring smooth and efficient cross-border transactions.
Bound / MFN (Most Favored Nation) duty rate is an important consideration for importers and exporters dealing with HS Code 58050020. The MFN principle states 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 means that if a country reduces or eliminates duties on certified hand-loomed and folklore hand-woven tapestries, it must apply this change to all its trading partners equally.
The quantity unit for HS Code 58050020 is square meters (M2). This unit of measurement helps calculate the size and area of the tapestries being imported or exported, providing a standardized reference for trade transactions.
There are also special tariff preference programs associated with HS Code 58050020. These programs offer reduced or zero tariffs for certain countries, encouraging trade and economic cooperation. For example:
Importing and exporting US states play a significant role in the trade of certified hand-loomed and folklore hand-woven tapestries. These tapestries can be sourced from various countries and regions around the world, and the importing US states act as entry points into the United States market. Similarly, the exporting US states serve as hubs for the distribution and shipment of these tapestries to international destinations.
HS Code 58050020 represents a distinct category of tapestries that hold cultural and artistic value. Understanding the HS code, duty rates, and special tariff preference programs associated with these tapestries is essential for importers, exporters, and customs authorities involved in international trade. By promoting trade facilitation and ensuring fair and equitable treatment, HS Code 58050020 contributes to the growth and development of the global textile industry.