When it comes to international trade, it is important to have a standardized system for classifying various products. The Harmonized System (HS) Code is a globally recognized code that is used to categorize goods for import and export purposes. One such HS code is 61043920, which refers to women's or girls' suit-type jackets, knitted or crocheted, of textile materials nesoi.
This HS code is specifically used to classify suit-type jackets that are designed for women or girls. These jackets are made from knitted or crocheted textile materials that are not elsewhere specified or included (nesoi). The code provides a clear and standardized way to identify and categorize these products, making it easier for customs authorities and traders to understand and classify them.
When it comes to trade, tariffs and duty rates play a significant role. The bound / most-favored-nation (MFN) duty rate for this particular HS code is free. This means 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 encourages fair and equal trade between countries.
The quantity unit for this HS code is dozens (DOZ). This provides a standardized unit of measurement for the import and export of women's or girls' suit-type jackets. It helps to ensure consistency and accuracy in trade transactions.
There are also special tariff preference programs in place for this HS code. These programs offer different duty rates for specific countries. For example, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Panama, Peru, and Singapore enjoy duty-free treatment for importing products under this HS code. Australia has a special rate of 8%, while Morocco has a special rate of 2.4% for importing these suit-type jackets.
It is important to note that the HS code 61043920 is used for importing women's or girls' suit-type jackets into the United States. However, it is equally relevant for exporting these products from the United States to other countries. The HS code provides a standardized way to classify and identify these products, ensuring smooth and efficient trade operations.
the HS code 61043920 is used to classify women's or girls' suit-type jackets, knitted or crocheted, of textile materials nesoi. It provides a standardized system for categorizing these products and plays a crucial role in international trade. The duty rates, quantity unit, and special tariff preference programs associated with this HS code further facilitate trade between countries. Understanding and correctly using the HS code is essential for importers, exporters, and customs authorities to ensure compliance and efficient trade operations.