When it comes to international trade, there are various codes and classifications used to categorize different products. One such code is the HS Code, which stands for Harmonized System Code. The HS Code 24021060 refers to cigars, cheroots, and cigarillos containing tobacco, each valued between 15 cents and 23 cents. In this article, we will explore more about this specific HS Code and its implications in international trade.
The product description of HS Code 24021060 is cigars, cheroots, and cigarillos containing tobacco. These products are valued at 15 cents or over but less than 23 cents. Cigars, cheroots, and cigarillos are all types of tobacco products that are popular among smokers. They come in various sizes and flavors, offering a unique smoking experience for enthusiasts.
The bound / MFN (Most Favored Nation) duty rate for HS Code 24021060 is 57 cents/kg. The MFN duty rate is the standard rate applied to imports from all trading partners. Additionally, there is a 1.4% increase in duty every time a country lowers a trade barrier or opens up a market. This provision ensures that all trading partners receive equal treatment in terms of trade barriers and market access.
The quantity unit for HS Code 24021060 is measured in thousand units (THS). This unit provides a standardized measure for tracking the volume of imports and exports of cigars, cheroots, and cigarillos containing tobacco. It allows for easy comparison and analysis of trade data.
HS Code 24021060 is eligible for various special tariff preference programs. These programs offer preferential treatment in terms of duty rates for imports from specific countries. The following programs apply to this HS Code:
These special tariff preference programs aim to promote trade and economic growth between specific countries by providing duty-free or reduced duty rates for imports of cigars, cheroots, and cigarillos containing tobacco.
When it comes to the import and export of products, it is essential to consider the specific states involved. For HS Code 24021060, the primary importing US state is Florida. Florida has a significant demand for cigars, cheroots, and cigarillos, making it the main entry point for these products into the country. On the other hand, the primary exporting US states for this HS Code are North Carolina and Virginia. These states are known for their tobacco production and have a significant role in supplying cigars, cheroots, and cigarillos to both domestic and international markets.
HS Code 24021060 refers to cigars, cheroots, and cigarillos containing tobacco, each valued 15 cents or over but less than 23 cents. This HS Code has a specific bound / MFN duty rate, special tariff preference programs, and is primarily imported into the US through Florida. Understanding the HS Code and its associated details is crucial for businesses and individuals involved in international trade.