When it comes to international trade, it is essential to have a standardized system to classify and identify different products. The Harmonized System (HS) code is a globally recognized system used to classify goods for customs purposes. In this article, we will explore the HS code 61124100, which represents women's or girls' knitted or crocheted swimwear of synthetic fibers.
Product Description:
The HS code 61124100 specifically applies to swimwear made for women and girls, which is knitted or crocheted using synthetic fibers. This code helps customs authorities and traders accurately classify and identify the product during import and export processes.
Bound / MFN Duty Rate:
The bound or most-favored-nation (MFN) duty rate for HS code 61124100 is set at 24.9%. This means that whenever 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. It is crucial for traders to be aware of this duty rate when importing or exporting women's or girls' knitted or crocheted swimwear of synthetic fibers.
Quantity Unit:
When dealing with HS code 61124100, the quantity unit is measured in dozens (DOZ). This unit provides a standardized measure for the volume of swimwear being imported or exported.
Special Tariff Preference Programs:
Several countries have special tariff preference programs for women's or girls' knitted or crocheted swimwear of synthetic fibers. These programs provide different duty rates or duty-free treatment for imports from specific countries. For example, Bahrain, Canada, Chile, Israel, Jordan, Mexico, Oman, Panama, Peru, and Singapore offer duty-free treatment. Australia has a special rate of 8%, and Morocco has a special rate of 2.5%. Traders should take advantage of these special rates to facilitate trade and reduce costs.
Importing US States:
Traders looking to import women's or girls' knitted or crocheted swimwear of synthetic fibers under HS code 61124100 should be aware of the specific US states involved in importing this product. The states include Maine, Mississippi, New Hampshire, New York, North Carolina, Ohio, Virginia, Wisconsin, and Nevada. Understanding the importing states helps ensure compliance with state-specific regulations and facilitates efficient trade.
Exporting US States:
While the data for exporting US states is not available, it is essential for traders to explore potential markets and identify states where there is demand for women's or girls' knitted or crocheted swimwear of synthetic fibers. Understanding the exporting states can help in targeting the right market and expanding business opportunities.
HS code 61124100 represents women's or girls' knitted or crocheted swimwear of synthetic fibers. Traders dealing with this product should consider the bound / MFN duty rate, quantity unit, special tariff preference programs, and relevant importing US states. By understanding the details associated with this HS code, traders can navigate international trade regulations effectively and enhance their business prospects.