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 99045235, which pertains to cotton card strips, staple less than 30.1625 mm in length, as well as cotton lap, sliver, and roving waste. This code falls under the broader category of textile products and is further categorized under subheading 5202.90.30.
HS Code 99045235 is used to classify and track the import and export of cotton card strips and waste. It is important to note that this HS code is subject to a value safeguard measure, which means that a specific import value threshold must be met before the goods can be imported. In this case, the value threshold is set at $1.20 per kilogram.
The bound or Most Favored Nation (MFN) duty rate for HS Code 99045235 is set at $3.159 per kilogram. The MFN duty rate is the standard rate applied to all trading partners unless a preferential trade agreement or special tariff program is in place.
It is important to understand that the MFN principle states that when 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 promotes fair and equal treatment among trading nations.
The quantity unit for HS Code 99045235 is kilograms (KG). This means that the weight of the imported or exported cotton card strips and waste is measured in kilograms.
HS Code 99045235 is eligible for a special tariff preference program called "Free (IL)". This stands for the Israel Special Rate, which grants duty-free treatment for imports of cotton card strips and waste from Israel.
Under this special tariff preference program, eligible importers can import these products from Israel without paying any customs duties. This program aims to promote trade between the United States and Israel by removing barriers and encouraging bilateral economic cooperation.
HS Code 99045235 allows for the import and export of cotton card strips and waste between different states within the United States. The specific states involved in the import and export activities may vary depending on market demand, production capabilities, and supply chain dynamics.
Some of the prominent cotton-producing states in the US include Texas, California, Mississippi, and Georgia. These states have a robust textile industry and contribute significantly to the production and export of cotton products, including card strips and waste.
On the other hand, states that have a strong textile manufacturing sector, such as North Carolina, South Carolina, and Alabama, may be the major importers of cotton card strips and waste for further processing and production of textile goods.
HS Code 99045235 plays a vital role in facilitating the international trade of cotton card strips and waste. This code allows for the proper classification, tracking, and regulation of these products, ensuring fair trade practices and compliance with customs regulations.
Understanding the product description, duty rates, quantity units, and special tariff preference programs associated with HS Code 99045235 is essential for importers, exporters, and other stakeholders in the textile industry. By adhering to the regulations and leveraging special programs, businesses can effectively navigate the global textile market and foster mutually beneficial trade relationships.