HS Code 60062410 represents a specific type of fabric known as printed circular knit fabric. This fabric is made entirely of cotton yarns with a metric number per single yarn over 100. It falls under the category of "not elsewhere specified or included" (nesoi). The HS Code is an internationally recognized system used to classify and categorize goods for trade and customs purposes.
When importing or exporting goods with HS Code 60062410, it is important to be aware of the associated duty rates. The bound / MFN (Most Favored Nation) duty rate for this HS Code is 10%. This means that regardless of the country of origin, a 10% duty must be paid when importing or exporting printed circular knit fabric.
However, there are special tariff preference programs in place that offer reduced or duty-free rates for certain countries. For this particular HS Code, the following special tariff preference programs apply:
These special tariff preference programs allow eligible countries to import or export printed circular knit fabric at reduced or duty-free rates. For example, Bahrain, Canada, Chile, Israel, Jordan, Mexico, Panama, Peru, and Singapore can enjoy duty-free treatment for this HS Code. Meanwhile, Australia benefits from a 3% duty rate, Morocco from a 1% duty rate, and Oman from a 6% duty rate.
It is worth noting that the duty rates and special tariff preference programs can vary over time and may be subject to change. It is important to stay updated with the latest regulations and trade agreements to ensure compliance and take advantage of any available benefits.
When importing or exporting printed circular knit fabric with HS Code 60062410, the quantity unit used is kilograms (KG). This unit of measurement allows for easy and standardized tracking of the quantity of fabric being traded.
HS Code 60062410 represents printed circular knit fabric made of cotton yarns over 100 metric number per single yarn. Understanding the associated duty rates and special tariff preference programs is crucial for importers and exporters to accurately calculate costs and take advantage of any available benefits. By staying informed and compliant, businesses can navigate the international trade landscape more effectively.