When it comes to international trade, it is important to have a unified system that classifies products for customs purposes. The Harmonized System (HS) Code is a standardized system of names and numbers that is used globally to classify traded products. In this article, we will explore the HS Code 61045910 and delve into its product description, duty rates, quantity unit, and special tariff preference programs.
The HS Code 61045910 pertains to women's or girls' skirts and divided skirts that are knitted or crocheted, specifically made of artificial fibers. This code helps customs authorities identify and categorize these products accurately, ensuring smooth trade operations.
Under the HS Code 61045910, the bound or Most Favored Nation (MFN) duty rate is 8%. The MFN duty rate refers to the rate applied to a product when a country lowers a trade barrier or opens up a market. It is important to note that this duty rate applies to all trading partners of the country.
The quantity unit for the product classified under HS Code 61045910 is dozens (DOZ). This unit of measurement helps in determining the quantity of skirts and divided skirts being imported or exported.
Several special tariff preference programs are applicable to products classified under HS Code 61045910. These programs provide varying levels of tariff benefits to specific trading partners. Here are the details:
These special tariff preference programs aim to promote trade and foster economic relationships between countries. They offer reduced or duty-free treatment to eligible products, providing exporters and importers with a competitive advantage.
The HS Code 61045910 applies to trade involving the United States. When importing products classified under this code, it is important to consider the specific regulations and requirements set by the US customs authorities. Similarly, when exporting from the US, it is crucial to understand the regulations of the destination country.
Overall, the HS Code 61045910 plays a vital role in international trade, ensuring proper classification, and facilitating smooth customs procedures. By understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this code, businesses can navigate the global marketplace more effectively.