When it comes to trade and commerce, it is essential to have a common classification system for goods and products. The Harmonized System (HS) code is an internationally recognized system that categorizes products for import and export purposes. In this article, we will explore the HS code 61012000, which pertains to men's or boys' overcoats, carcoats, capes, cloaks, anoraks, windbreakers, and similar articles made of cotton and knitted or crocheted.
The HS code 61012000 provides a standardized classification for these specific types of garments. It allows customs authorities and traders to easily identify and categorize this product for import and export documentation, tariff calculations, and statistical purposes. Understanding the HS code is crucial for smooth international trade operations and compliance with customs regulations.
According to the data available, the bound or most-favored-nation (MFN) duty rate for products falling under HS code 61012000 is 15.9%. The MFN duty rate means that whenever 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. This ensures fair and equal treatment for all countries involved in trade.
The quantity unit for HS code 61012000 is dozens (DOZ), which is a common measurement in the apparel industry. This unit allows for easy calculation and standardization of quantities when dealing with bulk orders or shipments of men's or boys' cotton overcoats, carcoats, capes, cloaks, anoraks, windbreakers, and similar articles.
Furthermore, there are special tariff preference programs associated with HS code 61012000. These programs provide certain countries with preferential treatment in terms of duty rates. For example, Bahrain (BH), Canada (CA) under the NAFTA agreement, Chile (CL), Israel (IL), Jordan (JO), Mexico (MX) under the NAFTA agreement, Oman (OM), Panama (P), Peru (PE), and Singapore (SG) are eligible for duty-free treatment. On the other hand, Australia (AU) enjoys a special rate of 8%, while Morocco (MA) has a special rate of 1.6%.
Importing and exporting HS code 61012000 products can vary depending on the countries involved. It is important to consider the specific regulations and requirements of the importing and exporting countries. Additionally, it is worth noting that the data provided does not include information about the importing and exporting US states. This information can be crucial for businesses looking to engage in international trade using HS code 61012000 products.
HS code 61012000 is a key classification for men's or boys' overcoats, carcoats, capes, cloaks, anoraks, windbreakers, and similar articles made of cotton and knitted or crocheted. It facilitates trade by providing a standardized classification system, duty rates, and quantity units. Businesses involved in the import and export of these products should familiarize themselves with the HS code and the specific regulations of the countries they are trading with. Understanding the HS code ensures smooth operations and compliance with customs requirements.