When it comes to international trade, it is important to have a standardized system for classifying goods. This is where the Harmonized System (HS) code comes into play. The HS code is a globally recognized code that is used to classify products for import and export purposes. Each product is assigned a unique HS code based on its characteristics and components.
In this article, we will be focusing on HS code 61041320, which represents women's or girls' suits, knitted or crocheted, of synthetic fibers, nesoi. Let's delve into the details of this particular HS code to better understand its implications in international trade.
The product description for HS code 61041320 is quite specific. It refers to suits for women or girls that are knitted or crocheted, and made of synthetic fibers. The term "nesoi" stands for "not elsewhere specified or included," indicating that this HS code encompasses suits that do not fall under any other specific category.
It is important to note that the HS code 61041320 only applies to suits made of synthetic fibers. Suits made of natural fibers, such as cotton or wool, would have different HS codes.
The bound or most-favored-nation (MFN) duty rate for HS code 61041320 is set at 14.9%. The MFN duty rate ensures that every time 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 promotes fair trade practices and prevents discrimination among trading partners.
The quantity unit for HS code 61041320 is measured in numbers (NO). This means that the quantity of suits being imported or exported is counted individually. For example, if a shipment consists of 100 suits, the quantity unit would be 100.
HS code 61041320 is eligible for various special tariff preference programs, which provide reduced or duty-free rates for importing countries. Here are some of the programs and the corresponding rates:
These special tariff preference programs aim to promote trade and economic cooperation between countries. They provide incentives for importing countries to choose products under HS code 61041320 from countries that offer preferential rates.
HS code 61041320 can be imported into various states within the United States. The specific states, however, are not mentioned in the provided data.
Similarly, the exporting states within the United States for HS code 61041320 are not specified in the given information.
HS code 61041320 represents women's or girls' suits, knitted or crocheted, of synthetic fibers, nesoi. This HS code is essential for classifying and regulating international trade of these specific suits. Importing and exporting countries can benefit from special tariff preference programs, which offer reduced or duty-free rates for certain countries. Understanding the HS code system is crucial for businesses involved in international trade to ensure compliance and take advantage of trade incentives.