The HS Code 61121940 refers to a specific product category: track suits made of textile materials, excluding cotton or man-made fibers, and containing 70% or more by weight of silk or silk waste. These track suits are either knitted or crocheted, making them comfortable and flexible for various activities.
When it comes to international trade, the HS code is crucial for identifying and classifying goods. It helps customs authorities, importers, and exporters determine the applicable tariffs, regulations, and trade policies associated with a particular product. In the case of HS Code 61121940, it specifically identifies track suits with a high silk content.
Importing these track suits into the United States is subject to a bound or most-favored-nation (MFN) duty rate of 3.5%. The MFN principle ensures 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 promotes fairness and equal treatment among trading nations.
The quantity unit for HS Code 61121940 is dozens (DOZ). This unit of measurement helps in determining the number of track suits being imported or exported.
There are also special tariff preference programs that may affect the duty rates for track suits under this HS code. Some countries have negotiated preferential trade agreements with the United States, allowing for reduced or duty-free treatment. For example:
For track suits imported from these countries, the duty rate is either free or significantly reduced. However, it's important to note that each preferential trade agreement has specific eligibility criteria and rules of origin that must be met to qualify for these special rates.
Importers and exporters should also be aware of the specific states in the United States that actively import or export track suits under HS Code 61121940. The following states have been identified as significant importers of these products:
These states have shown consistent demand for track suits made of textile materials with a high silk content. Importers and exporters can take this information into account when planning their trade activities and targeting potential markets.
HS Code 61121940 represents track suits made of textile materials containing 70% or more silk or silk waste. Understanding the HS code and its associated regulations, tariff rates, and preferential trade agreements is crucial for importers and exporters involved in the trade of these products. By leveraging this knowledge, businesses can make informed decisions and maximize their opportunities in the global marketplace.