HS Code 61121200: Track Suits, Knitted or Crocheted, of Synthetic Fibers
Track suits are a popular type of clothing that is commonly used for sports and casual wear. They are comfortable, stylish, and versatile, making them a favorite among athletes and fashion enthusiasts alike. If you are involved in the import or export of track suits, it is important to understand the HS code 61121200 and its associated details.
HS code 61121200 specifically refers to track suits that are knitted or crocheted, and made of synthetic fibers. The code helps in categorizing and classifying these products for customs purposes. By using the HS code, it becomes easier for customs authorities to identify and regulate the trade of track suits in international markets.
One important aspect to consider when dealing with HS code 61121200 is the bound or MFN (Most Favored Nation) duty rate. The bound duty rate for this HS code is 28.2%. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This duty rate applies to track suits of synthetic fibers, regardless of their country of origin.
In terms of quantity unit, track suits are typically measured in dozens (DOZ). This allows for easier calculation and tracking of the number of track suits being imported or exported.
Additionally, there are special tariff preference programs associated with HS code 61121200. These programs provide certain countries with preferential treatment when it comes to import duties. For example, track suits imported from Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, and Singapore are eligible for duty-free treatment. On the other hand, track suits imported from Australia are subject to a special rate of 8%, while those imported from Morocco are subject to a special rate of 2.8%.
When it comes to importing track suits of HS code 61121200 into the United States, there are several states that are major importers. These include Maine, Mississippi, New Hampshire, New York, North Carolina, Ohio, Virginia, and Wisconsin. These states have a high demand for track suits, making them important destinations for exporters.
Exporting track suits from the United States to other countries can be a lucrative business as well. The demand for track suits is not limited to the domestic market, and there are various countries around the world that import track suits of HS code 61121200. It is important for exporters to identify these countries and establish trade relationships to maximize their business opportunities.
HS code 61121200 refers to track suits that are knitted or crocheted, and made of synthetic fibers. Understanding the details and implications of this HS code is crucial for importers and exporters in the track suit industry. By staying informed about the bound duty rate, quantity unit, special tariff preference programs, and major importing and exporting states, businesses can navigate the international trade of track suits more effectively and efficiently.
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