The HS Code 61099040 refers to a specific category of products, namely T-shirts, singlets, tank tops, and similar garments made of textile material. These garments are made of materials other than cotton, man-made fibers (mmf), or long sleeve wool garments. Additionally, these garments contain 70% or more weight of silk or silk blend.
When it comes to international trade, the HS Code is used to classify and identify products for customs purposes. It helps in determining the applicable customs duties, tariffs, and other trade regulations associated with the specific product.
The bound or Most Favored Nation (MFN) duty rate for HS Code 61099040 is 2.6%. The MFN principle states 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 ensures fair and equal treatment for all countries involved in international trade.
The quantity unit for HS Code 61099040 is dozens (DOZ), which means that the products are usually traded and measured in multiples of twelve.
There are also special tariff preference programs applicable to this HS Code. In some countries, these garments can be imported duty-free under certain conditions. The countries that offer preferential treatment for HS Code 61099040 include Australia, Bahrain, Canada (under NAFTA), Chile, European Union (EU), Israel, Japan, Jordan, Mexico (under NAFTA), Oman, Peru, Singapore, and others. These preferential rates encourage trade and promote economic cooperation between countries.
It is important to note that the specific tariff rates and preferences may vary depending on the country and the trade agreement in place. For example, the Caribbean Basin Initiative (CBI), Andean Trade Preference Act (ATPA), and the Dominican Republic-Central American Special Rate (DR-CAFTA) are additional trade programs that may offer preferential treatment for this HS Code in specific regions.
When it comes to the import and export of products under HS Code 61099040, certain states in the United States are involved. Notably, North Carolina and South Carolina are major players in the importation of these garments. These states have established a strong presence in the textile and apparel industry, which contributes to their involvement in the trade of such products.
HS Code 61099040 refers to T-shirts, singlets, tank tops, and similar garments made of textile material containing 70% or more weight of silk or silk blend. The code helps in classifying and regulating the import and export of these products, determining applicable customs duties, and identifying special tariff preference programs. Understanding the HS Code and its associated regulations is crucial for businesses and individuals involved in international trade.