The HS Code 99045246 refers to cotton fibers that have been processed but not spun. These fibers are classified under the subheading 5203.00.30 and are subject to specific trade regulations and duty rates. In this article, we will explore the details of this HS code, including its product description, duty rates, quantity unit, special tariff preference programs, and the importing and exporting US states.
Cotton fibers falling under HS Code 99045246 are those that have undergone processing but are not yet spun into yarn or thread. The processing may include various stages such as ginning, cleaning, carding, and combing to remove impurities and prepare the fibers for spinning. These processed cotton fibers are typically used as raw material in textile and garment industries.
The bound or Most Favored Nation (MFN) duty rate for cotton fibers under HS Code 99045246 is 9.8 cents per kilogram (KG). The MFN duty rate signifies 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 ensures fair and non-discriminatory trade practices.
The quantity unit for cotton fibers under HS Code 99045246 is kilograms (KG). This means that the weight of the imported or exported cotton fibers will be measured and charged accordingly. It is essential to accurately declare the quantity to determine the applicable duty rates and ensure compliance with trade regulations.
Under the HS Code 99045246, cotton fibers may be eligible for special tariff preference programs. In this case, the product is classified as "Free" under the Israel Special Rate (duty-free treatment). This means that when importing cotton fibers from Israel, the importing country will not impose any duties or tariffs on the goods. Such preferential treatment aims to promote trade and strengthen economic ties between countries.
As for the importing and exporting US states, specific data is not provided for this particular HS code. However, it is important to note that the United States is a significant player in the global cotton trade, both as an importer and exporter. States like Texas, California, Georgia, and Mississippi are renowned for their cotton production and export activities. On the other hand, states with textile and garment industries, such as North Carolina and South Carolina, often import cotton fibers for manufacturing purposes.
the HS Code 99045246 refers to processed cotton fibers that have not yet been spun. Understanding the product description, duty rates, quantity unit, special tariff preference programs, and the importing and exporting US states is crucial for businesses involved in the cotton industry or international trade. By complying with the relevant regulations and taking advantage of preferential programs, businesses can optimize their operations and foster successful trade relationships.