When it comes to men's fashion, overcoats are a timeless and classic choice. They not only provide warmth and protection against the elements, but they also add a touch of sophistication and style to any outfit. One popular type of overcoat is made of wool or fine animal hair, and this is precisely what HS Code 62011100 refers to.
HS Code 62011100 specifically covers men's or boys' overcoats, carcoats, capes, cloaks, and similar coats made of wool or fine animal hair. It is important to note that these garments should not be knitted or crocheted. This distinction is significant as it helps classify the product accurately for import and export purposes.
When importing or exporting these overcoats, it is essential to understand the associated duties and tariff rates. The bound or Most Favored Nation (MFN) duty rate for HS Code 62011100 is 41 cents per kilogram plus an additional 16.3% of the product value. This means that for every kilogram of overcoats imported or exported, a duty of 41 cents plus 16.3% of the product value is applicable.
In addition to the general duty rate, there are also special tariff preference programs available for certain countries. These programs provide either duty-free treatment or reduced rates for importing or exporting the specified overcoats. Here are some examples:
Furthermore, there are specific rates for certain countries:
It is crucial for importers and exporters to be familiar with these special tariff preference programs and rates to take advantage of any cost savings or preferential treatment available.
HS Code 62011100 also specifies the quantity unit for these overcoats as dozens (DOZ). This unit of measurement helps ensure consistency and accuracy when determining the quantity of overcoats being imported or exported.
For businesses involved in the import or export of men's or boys' overcoats made of wool or fine animal hair, HS Code 62011100 is a critical reference point. Understanding the associated duties, tariff rates, and special tariff preference programs can help streamline the import-export process and maximize cost savings.