When it comes to international trade and the classification of goods, HS codes play a crucial role. HS Code 61071200 specifically refers to men's or boys' underpants and briefs, which are knitted or crocheted and made of man-made fibers. Let's take a closer look at this HS code and understand its implications in international trade.
Men's underpants and briefs are essential clothing items that are worn by millions of people worldwide. They provide comfort, support, and protection, and their demand continues to grow. As a result, international trade of these products is significant, and the use of HS codes helps in streamlining this process.
The HS code 61071200 provides a clear and standardized way to classify men's or boys' underpants and briefs made of man-made fibers. This code ensures that these products are properly identified and categorized for customs purposes, making the import and export procedures smoother.
The product description mentioned in the HS code specifies that the underpants and briefs must be knitted or crocheted. This information helps in distinguishing them from similar products made using different techniques or materials. The use of man-made fibers further narrows down the scope of this HS code, ensuring that only undergarments made from specific materials are included.
According to the data available, the bound or most-favored-nation (MFN) duty rate for HS code 61071200 is 14.9%. This means that whenever a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This duty rate applies to men's or boys' underpants and briefs, knitted or crocheted, of man-made fibers, regardless of the country of origin.
The quantity unit for this HS code is dozens (DOZ), which is a common measurement for clothing items. Importers and exporters can use this unit to determine the quantity of underpants and briefs being traded, facilitating accurate inventory management and logistics planning.
Additionally, there are several special tariff preference programs that offer favorable duty rates or duty-free treatment for HS code 61071200. These programs aim to promote trade and economic cooperation between countries. Some of the programs include:
It's important to note that the availability of these special tariff preference programs may vary depending on the country of import or export. Importers and exporters should consult the relevant trade agreements and regulations to determine the eligibility and specific requirements for each program.
As for the importing US states mentioned in the data, North Carolina is listed. This indicates that men's or boys' underpants and briefs, knitted or crocheted, of man-made fibers under HS code 61071200 are being imported into North Carolina. However, the data does not provide information about the exporting US states, which might vary depending on the trade flows and market dynamics.
HS Code 61071200 is a specific code that classifies men's or boys' underpants and briefs, knitted or crocheted, of man-made fibers. It enables the proper identification, categorization, and regulation of these products in international trade. Importers and exporters should be aware of the associated duty rates and special tariff preference programs to optimize their trade operations and take advantage of favorable conditions.