Graduated compression hosiery is an essential product for individuals who suffer from poor blood circulation, especially in the legs. It provides support and helps improve blood flow, reducing the risk of various leg-related issues such as varicose veins and deep vein thrombosis. The HS Code 61151060 refers to graduated compression hosiery, excluding pantyhose and tights, that is not intended for orthopedic treatment and falls under the category of "not elsewhere specified or included" (nesoi).
The HS Code system is an international standard for classifying traded products. It is used by customs authorities to determine the appropriate duty rates, as well as for statistical purposes. HS Code 61151060 specifically identifies and categorizes graduated compression hosiery, allowing for accurate tracking and monitoring of its international trade.
One important aspect to note is the bound or most-favored-nation (MFN) duty rate associated with this HS Code, which is 9.9%. The MFN principle states that whenever a country lowers a trade barrier or opens up a market for a certain product or service, it must do so for all its trading partners. This ensures fair and non-discriminatory treatment among countries in international trade.
The quantity unit for this product is measured in dozen pairs (DPR). This unit provides a standardized measure for tracking and calculating the volume of graduated compression hosiery being imported or exported.
There are also special tariff preference programs in place for this HS Code. Some countries offer duty-free treatment for the import of graduated compression hosiery, while others apply reduced duty rates. For example, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, and Singapore offer duty-free treatment for this product. Australia applies a 3% duty rate, and Morocco applies a 1% duty rate.
When importing graduated compression hosiery into the United States, it is essential to consider the specific regulations and requirements of each state. Different states may have varying import procedures and documentation requirements. Similarly, when exporting this product from the United States, it is crucial to be aware of the regulations and requirements of the destination country.
Overall, HS Code 61151060 plays a crucial role in accurately identifying and categorizing graduated compression hosiery in international trade. It allows for the appropriate application of duty rates, facilitates statistical tracking, and ensures fair and non-discriminatory treatment among trading partners. Understanding the details and implications of this HS Code is essential for businesses involved in the import and export of graduated compression hosiery.