When it comes to international trade, it is essential to have a standardized system to classify products. The Harmonized System (HS) Code provides a universal classification for goods traded across borders. In this article, we will delve into HS Code 62019110, which refers to men's or boys' padded, sleeveless jackets made of wool or fine animal hair.
The HS Code 62019110 specifically covers a particular type of clothing item. These jackets are designed for men and boys, and they are padded and sleeveless. Notably, they are not knitted or crocheted, ensuring a specific construction and fabric type. The jackets are made of wool or fine animal hair, showcasing their high-quality materials.
Understanding the HS Code is crucial for importers and exporters as it enables them to navigate international trade regulations and tariffs. Speaking of tariffs, the Bound or Most Favored Nation (MFN) duty rate for this product is 8.5%. The MFN duty rate refers to the rate applied to a product every time a country lowers a trade barrier or opens up a market – it must be consistent for all trading partners.
The quantity unit for this product is measured in dozens (DOZ). This information is vital for both buyers and sellers, ensuring accurate quantity calculations and pricing.
In terms of special tariff preference programs, several countries offer favorable rates for importing this product. The countries and their respective rates are as follows:
These special tariff preference programs aim to promote trade and provide incentives for specific trading partners. Importers should take advantage of these programs to reduce costs and enhance competitiveness.
It is also important to mention that the HS Code 62019110 applies to both importing and exporting activities involving the United States. The code facilitates smooth trade transactions and ensures proper classification of the products.
HS Code 62019110 covers men's or boys' padded, sleeveless jackets made of wool or fine animal hair. It is crucial for importers and exporters to familiarize themselves with this code to comply with trade regulations and take advantage of special tariff preference programs. By understanding the HS Code system, international trade becomes more efficient and transparent.