When it comes to international trade, it is crucial to have a standardized system for classifying products. The Harmonized System (HS) Code is a globally recognized code that is used to classify goods in international trade. In this article, we will explore the HS Code 61029010, which pertains to women's or girls' overcoats, carcoats, etc., made of textile materials (other than wool, cotton, or man-made fibers), containing 70% or more weight of silk, and knitted or crocheted.
The HS Code 61029010 provides a clear and specific description of the product, ensuring that there is no ambiguity in its classification. This code is used by customs authorities and traders worldwide to facilitate the smooth flow of goods across borders.
According to the product description, the women's or girls' overcoats, carcoats, etc., covered by this HS Code are made of textile materials other than wool, cotton, or man-made fibers. These overcoats must contain 70% or more weight of silk and be knitted or crocheted. This specific description allows customs authorities to accurately identify and classify these products during import or export procedures.
The quantity unit specified for this HS Code is dozens (DOZ). This means that the products covered by this code are typically traded in multiples of twelve. It is important for traders to be aware of this unit when dealing with this particular product category.
When it comes to the duty rates applicable to products classified under HS Code 61029010, the bound or Most Favored Nation (MFN) duty rate is 0.9%. The MFN duty rate is the rate that a country applies to imports from all its trading partners, ensuring that there is no discrimination in trade. It is important for importers and exporters to consider this duty rate when calculating the cost of their transactions.
In addition to the standard duty rate, there are also special tariff preference programs in place for products classified under HS Code 61029010. These programs provide preferential treatment to certain countries, allowing them to import these products at reduced or zero duty rates. Some of the countries that offer special tariff preference programs for this HS Code include Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, Singapore, and Morocco.
Importing and exporting goods under HS Code 61029010 can be done between various US states and countries around the world. The specific importing and exporting US states may vary depending on market demand and trade patterns. Traders should consult with customs authorities and trade experts to determine the specific requirements and regulations for importing or exporting these products.
HS Code 61029010 is an important code that classifies women's or girls' overcoats, carcoats, etc., made of textile materials (other than wool, cotton, or man-made fibers), containing 70% or more weight of silk, and knitted or crocheted. This code allows for accurate classification and facilitates the smooth flow of goods in international trade. Traders should be aware of the duty rates, special tariff preference programs, and specific requirements for importing and exporting these products to ensure compliance with customs regulations.