When it comes to international trade, it is essential to have a system that helps classify and categorize different products. The Harmonized System (HS) Code provides a standardized classification system for goods traded across borders. In this article, we will explore the HS Code 61031090, which refers to men's or boys' suits, knitted or crocheted, made of textile materials (excluding wool, cotton, or man-made fibers), and containing under 70% by weight of silk or silk waste.
Understanding the HS Code is crucial for importers, exporters, customs officials, and other stakeholders involved in international trade. The HS Code 61031090 helps identify and differentiate this specific type of product from others in the textile industry. Let's delve deeper into the details of this HS Code and its associated information.
The HS Code 61031090 refers to men's or boys' suits that are knitted or crocheted. These suits are made of textile materials, excluding wool, cotton, or man-made fibers. Additionally, they contain under 70% by weight of silk or silk waste. This code helps customs officials and traders easily identify and classify these suits during import and export processes.
The bound duty rate for HS Code 61031090 is 5.6%. The Most Favored Nation (MFN) duty rate is the rate applied to imports from most countries. It is important to note that every time a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This ensures fair treatment and equal opportunities for all trading partners.
The quantity unit for HS Code 61031090 is not available (NA). This means that the specific unit of measurement for this product is not mentioned, and it could vary based on the buyer's or seller's preference or the specific requirements of the transaction.
Several special tariff preference programs are applicable to imports of men's or boys' suits under HS Code 61031090. These programs provide certain countries with preferential treatment in terms of customs duties. Here are some of the special tariff rates applicable to this HS Code:
These special tariff preference programs aim to promote trade and strengthen economic ties between countries. Importers and exporters can take advantage of these programs to reduce or eliminate customs duties, making trade more cost-effective.
As for the specific importing and exporting US states for men's or boys' suits under HS Code 61031090, the data is not provided. However, it is worth mentioning that the United States is a major player in the global textile industry. The demand for men's and boys' suits, including knitted or crocheted ones, is significant in the US market. Therefore, this HS Code holds relevance for importers and exporters across various US states.
The HS Code 61031090 plays a crucial role in classifying, identifying, and regulating international trade of men's or boys' suits, knitted or crocheted, made of textile materials (excluding wool, cotton, or man-made fibers), and containing under 70% by weight of silk or silk waste. Understanding this HS Code helps importers, exporters, and customs officials streamline their processes and comply with relevant regulations. Additionally, the special tariff preference programs associated with this HS Code provide opportunities for cost savings and increased trade between countries.
Whether you are involved in the textile industry, international trade, or simply curious about HS Codes, knowing the specifics of HS Code 61031090 is valuable. It enables efficient trade operations, facilitates customs procedures, and contributes to the overall growth of the global economy.