When it comes to international trade, there are various codes and classifications in place to ensure smooth transactions between countries. One such code is the Harmonized System (HS) code, which is a standardized numerical system used to classify traded products. In this article, we will explore HS code 61151040, which refers to graduated compression hosiery (except pantyhose and tights) made of synthetic fibers.
The HS code 61151040 specifically covers graduated compression hosiery made of synthetic fibers. Graduated compression hosiery refers to socks or stockings that apply varying levels of pressure to the legs. These hosiery products are designed to improve blood circulation and alleviate symptoms related to venous disorders, such as varicose veins or edema. However, it is important to note that this HS code does not include pantyhose or tights.
The bound or most-favored-nation (MFN) duty rate for HS code 61151040 is 14.6%. The MFN duty rate is the rate applied to a product when a country lowers a trade barrier or opens up a market. It is important for countries to apply the same duty rate for the same goods or services from all its trading partners, promoting fair and equal trade.
The quantity unit for HS code 61151040 is dozen pairs (DPR). This means that the product is typically traded and measured in sets of twelve pairs.
There are several special tariff preference programs associated with HS code 61151040. These programs offer reduced or duty-free rates for importing countries based on their trade agreements or specific arrangements. Below are some details on the special tariff preference programs for this HS code:
HS code 61151040 is relevant for both importing and exporting states within the United States. This means that both importers and exporters from different states in the US may engage in the trade of graduated compression hosiery made of synthetic fibers.
Overall, HS code 61151040 plays a crucial role in classifying and regulating the trade of graduated compression hosiery made of synthetic fibers. It ensures that the correct duty rates are applied and facilitates fair and efficient international trade. Importers and exporters must be aware of the specific requirements associated with this HS code to ensure compliance and successful trade transactions.