When it comes to international trade, it is essential to have a standardized system for classifying products. The Harmonized System (HS) Code is a globally recognized classification system developed by the World Customs Organization (WCO). Each product is assigned a unique HS Code, which helps in identifying and categorizing goods for customs and statistical purposes.
One such HS Code is 61034310, which represents men's or boys' trousers, breeches, and shorts made from knitted or crocheted synthetic fibers. These garments are specifically classified under this code if they contain 23 percent or more of wool or fine animal hair.
Importers and exporters dealing with products falling under HS Code 61034310 must be aware of the various aspects related to this code. Let's explore the key details:
HS Code 61034310 refers to trousers, breeches, and shorts designed for men or boys. These garments are made from a combination of synthetic fibers and contain at least 23 percent of wool or fine animal hair. The use of synthetic fibers ensures durability and comfort, while the addition of wool or fine animal hair adds warmth and luxury to the fabric.
The bound / MFN (Most Favored Nation) duty rate for products classified under HS Code 61034310 is 58.5 cents per kilogram plus an additional 15.2% ad valorem duty. This duty rate is applicable to all countries unless special tariff preference programs are in place.
It is important to note that trade barriers can be lowered or markets can be opened up by countries. In such cases, the same goods or services from all trading partners must receive the same treatment. This principle ensures fair and equal trade practices among nations.
The quantity unit for products falling under HS Code 61034310 is dozens (DOZ). This unit of measurement helps in determining the quantity of garments being imported or exported.
Several countries have established special tariff preference programs for products classified under HS Code 61034310. These programs offer reduced or duty-free treatment to promote trade relations. Here are some of the special tariff preference programs applicable to this HS Code:
Additionally, Australia offers a special rate of 8% for imports under this HS Code, while Morocco provides a special rate of 6?/kg plus 1.5% ad valorem duty.
HS Code 61034310 is relevant for both importers and exporters in the United States. Importing US states refer to the states where these garments are being imported into the US, while exporting US states indicate the states from which these garments are being exported.
Understanding the HS Code and its associated details is crucial for international traders. It helps in determining the correct classification, duty rates, and potential tariff preferences for specific products. HS Code 61034310 specifically represents men's or boys' trousers, breeches, and shorts made from knitted or crocheted synthetic fibers, with a significant percentage of wool or fine animal hair. Stay informed about the regulations and programs related to this code to ensure smooth trade operations.