When it comes to international trade, the Harmonized System (HS) Code plays a crucial role in identifying and classifying products. In this article, we will delve into the details of HS Code 58063210, which pertains to woven ribbons of man-made fibers. This HS Code specifically excludes products that contain 5% or more of elastomeric yarn or rubber, ensuring that the focus is on pure woven ribbons.
The HS Code 58063210 falls under the broader category of textiles and textile articles, providing a specific classification for woven ribbons made from man-made fibers. These ribbons can be used in a variety of applications, such as garment manufacturing, home decor, gift wrapping, and more.
The product description for HS Code 58063210 is as follows: woven ribbons of man-made fibers, not pile, not containing by weight 5% or more of elastomeric yarn or rubber. This description clearly outlines the characteristics and composition of the product, ensuring that it is distinct from other textile articles.
The bound duty rate for HS Code 58063210 is 6%. The bound duty rate refers to the maximum tariff rate that a country can apply to a specific product. In the case of HS Code 58063210, the maximum tariff rate is 6%. However, it is important to note that countries have the flexibility to apply a lower tariff rate, depending on their trade policies and agreements.
Under the Most Favored Nation (MFN) principle, 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 principle promotes fair and equal treatment among trading partners, ensuring that no country receives preferential treatment over others.
The quantity unit for HS Code 58063210 is kilograms (KG). This unit of measurement is commonly used in international trade to quantify the weight of products being imported or exported. It provides a standardized measure that allows for accurate and consistent trade data.
HS Code 58063210 is eligible for various special tariff preference programs, which can significantly impact the duty rates applied to imports. These programs are designed to promote trade between specific countries and provide preferential treatment for certain products. The following are the special tariff preference programs applicable to HS Code 58063210:
These special tariff preference programs provide various benefits, including duty-free treatment or reduced duty rates, depending on the specific program and country. Importers and exporters should carefully analyze these programs to take advantage of favorable trade conditions and maximize cost savings.
HS Code 58063210 can be imported and exported to and from various states within the United States. The specific importing and exporting states may vary depending on market demand, supply chains, and trade agreements. It is essential for businesses engaged in international trade to understand the dynamics of importing and exporting within the US market to effectively plan their operations and optimize their trade activities.
HS Code 58063210 provides a specific classification for woven ribbons of man-made fibers. This article has explored the product description, bound duty rate, quantity unit, special tariff preference programs, and importing/exporting US states associated with this HS Code. By understanding the details and implications of HS Code 58063210, businesses can navigate the complexities of international trade and make informed decisions.