When it comes to international trade, the Harmonized System (HS) Code plays a crucial role in classifying goods. In this article, we will delve into the details of HS Code 99045243, which pertains to cotton card strips, staple < 30.1625 mm, and cotton lap, sliver & roving waste.
Cotton card strips, staple < 30.1625 mm, refer to the fiber remnants obtained during the carding process of cotton. These strips are usually shorter in length and have a thickness of less than 30.1625 mm. On the other hand, cotton lap, sliver & roving waste includes the byproducts from the spinning and drafting stages of cotton processing.
HS Code 99045243 is specifically assigned to these cotton waste products and is used for international trade purposes. It helps in accurately identifying and categorizing these goods, ensuring smooth transactions between countries.
The product description for HS Code 99045243 includes cotton card strips, staple < 30.1625 mm, and cotton lap, sliver & roving waste. These materials are commonly used in various industries for different purposes such as insulation, padding, and even in the creation of recycled cotton products.
It is important to note that this HS code also mentions the specific entry under 5202.90.30, which further classifies these cotton waste products. This level of detail helps in accurate classification and ensures that the correct import duties and regulations are applied.
The bound / MFN duty rate for HS Code 99045243 is 2.6 cents/kg. Bound duty rates are the maximum rates agreed upon by countries in international trade negotiations. These rates serve as a ceiling, and countries cannot impose duties higher than the bound rate.
It is worth mentioning 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 principle ensures fair and equal treatment for all countries involved in international trade.
The quantity unit for HS Code 99045243 is kilograms (KG). This unit of measurement is widely used in the trade of cotton waste products. It provides a standardized way to quantify and record the amount of cotton card strips and waste being imported or exported.
Under the special tariff preference program, HS Code 99045243 enjoys duty-free treatment in Israel. This means that when importing these cotton waste products into Israel, no import duties or taxes are imposed. This special rate encourages trade between Israel and countries exporting these goods under HS Code 99045243.
HS Code 99045243 is applicable for importing and exporting cotton card strips and waste in various US states. The specific states involved in these trade transactions may vary based on market demand and supply. However, it is important to note that this HS code can be utilized by any state in the US for importing or exporting these cotton waste products.
To conclude, HS Code 99045243 plays a crucial role in international trade, specifically for cotton card strips, staple < 30.1625 mm, and cotton lap, sliver & roving waste. Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS code is essential for businesses and individuals involved in the import and export of these cotton waste products.