The HS Code 61071990 refers to a specific category of products, which in this case is men's or boys' underpants and briefs made of textile materials (excluding cotton or mmf) and containing under 70% by weight of silk. These undergarments are knitted or crocheted, providing comfort and style for the wearer.
When it comes to international trade, the HS Code plays a crucial role in identifying and categorizing products. It is a standardized system used worldwide to classify goods for customs and trade purposes. Each HS Code is unique to a specific product or product category, making it easier for customs authorities and traders to identify and track shipments.
The HS Code 61071990 is used to distinguish these specific types of men's or boys' underpants and briefs from other textile products. It ensures that the correct duties, taxes, and regulations are applied during imports and exports.
The bound or most-favored-nation (MFN) duty rate for HS Code 61071990 is 5.6%. This means that whenever a country lowers a trade barrier or opens up its market, it must do so for the same goods or services from all its trading partners. The 5.6% duty rate applies to the value of the imported underpants and briefs.
The quantity unit for HS Code 61071990 is dozens (DOZ). This means that underpants and briefs are typically imported or exported in multiples of 12. The dozens unit simplifies the calculation and measurement of trade quantities, making it easier to track and manage inventory.
Several special tariff preference programs apply to HS Code 61071990. These programs offer reduced or zero-duty rates for imports from specific countries. The following are the special tariff preference programs and their corresponding rates:
These special tariff preference programs aim to promote trade between countries and provide economic benefits for both importers and exporters. By reducing or eliminating duties, these programs incentivize trade and foster stronger international relationships.
While the data provided does not specify the exporting US states, it mentions North Carolina as an importing state for HS Code 61071990. This means that underpants and briefs falling under this HS Code are imported into North Carolina. The state serves as a destination for these products, potentially indicating a demand for such items in the local market.
Overall, HS Code 61071990 plays a vital role in the international trade of men's or boys' underpants and briefs made of textile materials, containing under 70% silk, and knitted or crocheted. It helps ensure proper classification, duty rates, and eligibility for special tariff preference programs. Understanding the HS Code system is essential for businesses and traders involved in global commerce.