When it comes to international trade, specific codes called Harmonized System (HS) codes are used to classify products. These codes are essential for customs procedures, tariff determination, and collecting trade statistics. In this article, we will delve into HS Code 61041960, which represents women's or girls' suits, knitted or crocheted, made of cotton.
The HS Code 61041960 is specifically designed to cover suits for women and girls that are knitted or crocheted and are made from cotton, a popular natural fiber known for its comfort and breathability. This code helps countries regulate and monitor the import and export of these specific products.
One important aspect of HS codes is the bound or Most Favored Nation (MFN) duty rate associated with them. The bound duty rate for HS Code 61041960 is 9.4%. The MFN duty rate ensures that when 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 fairness and equal treatment in international trade.
In terms of quantity units, the HS Code 61041960 uses dozens (DOZ) as the unit of measurement. This means that when importing or exporting women's or girls' suits under this code, the quantity will be measured in dozens.
Furthermore, there are special tariff preference programs associated with HS Code 61041960. Some countries provide favorable tariff rates or even duty-free treatment for importing or exporting these suits. For example:
In addition, Australia (AU) offers a special rate of 8% for importing these suits, while Morocco (MA) provides a special rate of 1%. These special tariff preference programs aim to promote trade and economic cooperation between countries.
Importing and exporting women's or girls' suits under HS Code 61041960 can involve various US states and their trading partners. The specific states involved in importing these suits may vary, but some potential exporting US states for these products could include textile manufacturing hubs like California, North Carolina, or Texas.
Overall, HS Code 61041960 plays a crucial role in facilitating international trade of women's or girls' suits, knitted or crocheted, made of cotton. It helps countries classify and regulate the import and export of these products, while special tariff preference programs further incentivize trade between nations. Understanding HS codes is essential for businesses and individuals involved in international trade to ensure compliance and take advantage of favorable trade policies.