The HS Code 61059040 represents a specific category of men's or boys' shirts made of textile materials, excluding wool, cotton, or man-made fibers. These shirts are made primarily of silk or silk waste, and are knitted or crocheted.
When it comes to international trade, the HS Code plays a crucial role in identifying and classifying goods for customs and statistical purposes. It helps in simplifying the import and export process by providing a standardized code for each product.
The bound or Most Favored Nation (MFN) duty rate for HS Code 61059040 is 0.9%. This means that every time a country reduces trade barriers or opens up its market, it must extend the same treatment to all its trading partners for the specified goods or services.
The quantity unit for this HS Code is dozens (DOZ), which is a common unit of measurement for garments.
There are also special tariff preference programs in place for this particular HS Code. The following countries provide free tariff rates for importing these shirts: Australia, Bahrain, Canada (under NAFTA for duty-free treatment), Chile, European Union, Israel, Japan, Jordan, Mexico (under NAFTA), Oman, Peru, Singapore. Additionally, Morocco offers a special rate of 0.1% for this product.
When it comes to importing this particular product into the United States, the state of Arkansas is mentioned twice as an importing state. This might indicate that there is a significant demand for these silk shirts in Arkansas.
On the other hand, the data does not specify any particular exporting states within the United States. This could mean that there are no significant producers of men's or boys' shirts made of silk or silk waste in the United States, or that the data does not provide information on exporting states.
HS Code 61059040 represents a specific category of men's or boys' shirts made primarily of silk or silk waste. It is important for international trade as it provides a standardized code for customs and statistical purposes. The bound duty rate for this code is 0.9%, and there are special tariff preference programs in place for various countries. Import data suggests that Arkansas is a prominent market for these shirts, while exporting states are not specified in the provided data.