When it comes to international trade, it is essential to have a system in place that allows for smooth and efficient transactions. This is where the Harmonized System (HS) Code comes into play. The HS Code is a standardized system used globally to classify and identify traded products. Each product is assigned a unique HS Code, which helps streamline the import and export process.
In this article, we will be focusing on HS Code 61072100, which pertains to men's or boys' nightshirts and pajamas made of knitted or crocheted cotton. Let's explore the details of this HS Code and its implications for international trade.
HS Code 61072100 specifically refers to nightshirts and pajamas for men and boys. These garments are made from knitted or crocheted cotton, providing comfort and breathability during sleep. The HS Code ensures that these products are classified correctly, making it easier for customs authorities to identify and process them.
The bound / MFN (Most Favored Nation) duty rate for HS Code 61072100 is 8.9%. 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. The duty rate serves as a protectionist measure for domestic industries and helps regulate international trade.
The quantity unit for HS Code 61072100 is dozens (DOZ). This unit of measurement is used to quantify the number of nightshirts and pajamas being imported or exported. It provides a standardized method for recording and tracking the volume of trade for this specific product category.
Several countries have implemented special tariff preference programs for HS Code 61072100. These programs offer reduced or zero-duty rates for imports and exports of this specific product. The following are the details of the special tariff preference programs for this HS Code:
These special tariff preference programs aim to promote trade and strengthen economic relationships between countries. They provide incentives for businesses to engage in cross-border transactions, ultimately benefiting both importers and exporters.
While specific data on exporting US states for HS Code 61072100 is not available, it is worth noting that the importing US state for this product is North Carolina. This information can be useful for businesses looking to target specific regions within the United States for their exports.
HS Code 61072100 plays a crucial role in international trade by accurately classifying and identifying men's or boys' nightshirts and pajamas made of knitted or crocheted cotton. The bound / MFN duty rate, quantity unit, and special tariff preference programs associated with this HS Code further facilitate the import and export process. Understanding the HS Code system is essential for businesses and individuals involved in international trade, as it ensures compliance with customs regulations and promotes efficient cross-border transactions.