When it comes to international trade, it is essential to have a standardized system in place to classify and identify goods. The Harmonized System (HS) code is a globally recognized code that is used to classify products for import and export purposes. HS Code 60062490 specifically refers to printed knitted or crocheted fabrics of cotton, not elsewhere specified or included.
Printed knitted or crocheted fabrics of cotton are textiles that have been produced using knitting or crocheting techniques, and then printed with various designs or patterns. These fabrics are commonly used in the textile and fashion industry for the production of clothing, home furnishings, and accessories.
Importing or exporting goods classified under HS Code 60062490 may be subject to certain trade barriers or tariffs. The bound or Most Favored Nation (MFN) duty rate for this particular HS code is 10%. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners.
The quantity unit for goods classified under HS Code 60062490 is measured in kilograms (KG). This unit of measurement is commonly used in international trade to determine the weight of goods being imported or exported.
Additionally, there are special tariff preference programs in place for goods classified under HS Code 60062490. These programs provide certain countries with preferential treatment or reduced duty rates when trading these specific goods. The countries that enjoy free tariff rates for this HS code include Bahrain (BH), Canada (CA) under NAFTA (North American Free Trade Agreement), Chile (CL), Israel (IL), Jordan (JO), Mexico (MX) under NAFTA, Peru (PE), and Singapore (SG). Australia (AU) enjoys a reduced duty rate of 3%, while Morocco (MA) and Oman (OM) enjoy reduced rates of 1% and 6% respectively.
When it comes to importing goods classified under HS Code 60062490, various US states engage in trade. The specific exporting US states may vary depending on the demand and supply of these printed knitted or crocheted cotton fabrics.
HS Code 60062490 plays a significant role in facilitating international trade by providing a standardized system for classifying and identifying printed knitted or crocheted fabrics of cotton. Understanding the HS code, trade barriers, duty rates, and special tariff preference programs is crucial for businesses and individuals involved in the import and export of these goods.