When it comes to international trade, the Harmonized System (HS) Code plays a crucial role in classifying products. The HS Code 61159400 specifically refers to hosiery made of wool or fine animal hair, which is knitted or crocheted. Let's delve deeper into this HS Code and explore its various aspects.
The product description for HS Code 61159400 is "Hosiery nesoi, knitted or crocheted, of wool or fine animal hair." This code encompasses various types of hosiery, such as socks, stockings, and tights, made from wool or fine animal hair. The knitted or crocheted construction ensures comfort and flexibility.
The bound / MFN (Most Favored Nation) duty rate for HS Code 61159400 is 11.3%. This means 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. The 11.3% duty rate applies to the import of hosiery under this HS Code.
The quantity unit for hosiery under HS Code 61159400 is a dozen pairs (DPR). This unit represents twelve pairs of hosiery. It is essential for importers and exporters to know the quantity unit to facilitate accurate trade transactions and pricing.
HS Code 61159400 benefits from various special tariff preference programs, which provide certain countries with preferential treatment in terms of duty rates. Here is a breakdown of the special tariff preference programs applicable to this HS Code:
These special tariff preference programs allow certain countries to import hosiery under HS Code 61159400 at reduced duty rates or duty-free. It incentivizes trade between the countries involved and promotes economic cooperation.
HS Code 61159400 sees imports and exports of hosiery made of wool or fine animal hair to and from various US states. The specific states involved in the import and export of products under this HS Code may vary based on market demand and trade agreements.
It is crucial for businesses and traders to stay informed about the importing and exporting states to identify potential trade opportunities and understand market dynamics.
HS Code 61159400 plays a significant role in classifying and regulating the trade of hosiery made of wool or fine animal hair. Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS Code is essential for importers, exporters, and traders involved in the global hosiery market.
By leveraging the information provided by the HS Code, businesses can navigate international trade regulations, identify market opportunities, and foster economic growth.