The HS Code 59112020 refers to a specific product called Bolting Cloth Nesoi, of Silk, whether or not made up. This code is used to classify and identify goods for international trade purposes. It helps in standardizing the classification of products and ensures that trade regulations and tariffs are applied uniformly across countries.
The product description indicates that Bolting Cloth Nesoi is made of silk and can be either in a prepared or unprepared state. The term "nesoi" stands for "not elsewhere specified or included," which means that it includes various types of silk bolting cloth that do not fall under any other specific HS code.
When it comes to import and export regulations, the HS Code 59112020 is subject to certain duty rates and special tariff preference programs. The bound or most-favored-nation (MFN) duty rate for this product is free, which means that it can be imported or exported without any additional taxes or duties imposed.
Under special tariff preference programs, the HS Code 59112020 is eligible for duty-free treatment in several countries such as Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Morocco, Oman, Peru, Singapore, and the Dominican Republic-Central American region (under DR-CAFTA). These countries have specific trade agreements or arrangements with the United States that grant preferential treatment to certain goods, including Bolting Cloth Nesoi of Silk.
Australia is an exception among the special tariff preference programs for this HS Code, as it imposes a duty rate of 2.9%. Therefore, imports or exports of Bolting Cloth Nesoi of Silk to Australia will be subject to this additional tariff.
The quantity unit for this product is square meters (M2). This unit of measurement helps in determining the size or area of the bolting cloth being imported or exported.
It is important for importers and exporters to be aware of the specific duty rates and special tariff preference programs associated with the HS Code 59112020. This knowledge can help them make informed decisions and take advantage of any available trade benefits or cost savings.
the HS Code 59112020 is used to classify Bolting Cloth Nesoi, of Silk, whether or not made up. This code is subject to various duty rates and special tariff preference programs. Importers and exporters should familiarize themselves with these regulations to ensure compliance and optimize trade opportunities.