The HS Code 61034110 refers to men's or boys' trousers, breeches, and shorts that are knitted or crocheted, and made of wool or fine animal hair. This code is used to classify and identify these specific types of garments for international trade purposes.
When importing or exporting goods, it is essential to correctly identify the HS code to ensure proper classification and adherence to trade regulations. The HS code system is universally recognized and used by customs authorities worldwide to facilitate the movement of goods across borders.
The product description of trousers, breeches, and shorts for men or boys indicates that these garments are made of wool or fine animal hair. This information is crucial for customs officials to determine the appropriate duty rates and tariff preferences applicable to these products.
The bound or Most Favored Nation (MFN) duty rate for this HS code is 61.1 cents per kilogram. In addition to the fixed duty rate, a percentage of 15.8% is applied every time a country lowers a trade barrier or opens up a market. This principle ensures that all trading partners receive equal treatment for the same goods or services.
The quantity unit for this HS code is dozens (DOZ), which means that the goods are typically measured and traded in multiples of twelve.
Various special tariff preference programs apply to this HS code, providing different duty rates and treatment for specific countries. Some of these programs include:
These special tariff preference programs aim to promote trade and foster economic relationships between countries by providing favorable duty rates for specific goods.
When importing or exporting goods classified under HS Code 61034110, it is essential to consider the applicable duty rates, tariff preferences, and any other relevant regulations. Compliance with these requirements will ensure a smooth and efficient international trade process.
Importing and exporting US states can benefit from understanding the specific HS code and its implications for trade. By accurately identifying and classifying goods, businesses can make informed decisions regarding sourcing, pricing, and market access.
Overall, the HS Code 61034110 plays a crucial role in international trade by providing a standardized system for classifying, identifying, and regulating men's or boys' trousers, breeches, and shorts made of wool or fine animal hair. Understanding the details and implications of this HS code is essential for businesses, customs authorities, and other stakeholders involved in global trade.