When it comes to international trade, it is essential to have a standardized system for classifying and identifying products. The Harmonized System (HS) Code is a globally recognized system that is used to classify and define different types of goods. The HS Code 61159560 refers to stockings, socks, etc. (not surgical), knitted or crocheted, of cotton, containing lace or net.
Stockings and socks are common clothing items that are worn by people all over the world. These particular types of stockings and socks are made from cotton and are knitted or crocheted. They also contain lace or net, adding a touch of elegance and style to the product.
One important aspect to consider when engaging in international trade is the duty rate. The bound / MFN duty rate for HS Code 61159560 is 10%. This means that every time 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. This ensures fair and equal treatment for all countries involved in trade.
The quantity unit for HS Code 61159560 is dozen pairs (DPR). This unit of measurement allows for easy calculation and estimation of the number of stockings or socks being imported or exported.
Additionally, there are special tariff preference programs associated with HS Code 61159560. These programs provide certain countries with preferential treatment in terms of duty rates. The following countries enjoy special tariff rates for this particular HS Code:
These countries enjoy either duty-free treatment or reduced duty rates for the import of stockings, socks, etc. (not surgical), knitted or crocheted, of cotton, containing lace or net.
When importing or exporting goods, it is also important to consider the specific regions or states within a country. The importing and exporting US states for HS Code 61159560 may vary depending on the trade agreements and preferences of each state. It is advisable to consult the relevant trade authorities or customs agencies to obtain accurate and up-to-date information on the specific states involved in the trade of this particular product.
HS Code 61159560 represents stockings, socks, etc. (not surgical), knitted or crocheted, of cotton, containing lace or net. Understanding the HS Code, duty rates, and special tariff preference programs is crucial for successful international trade of these products. By adhering to the standardized classification system and taking advantage of preferential treatment, businesses can navigate the global market more effectively.