The HS Code 62031910 refers to men's or boys' suits made of cotton that are not knitted or crocheted. This code is used to classify these specific products for international trade purposes. Knowing the HS code of a product is essential for importers and exporters as it helps in determining the correct customs duties, taxes, and regulations applicable to the goods.
When it comes to international trade, countries often have trade barriers in place that restrict or regulate the import and export of certain goods. However, with the concept of Most Favored Nation (MFN) treatment, 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. The bound or MFN duty rate for HS Code 62031910 is 13.2%.
The quantity unit for this HS code is dozens (DOZ). This means that the measurement and pricing of the product are based on a unit of twelve.
There are also special tariff preference programs available for importing goods under HS Code 62031910. These programs provide certain countries with preferential treatment in terms of customs duties. The countries and their corresponding tariff rates for this HS code are as follows:
These tariff preference programs aim to promote trade and economic cooperation between the countries involved by reducing or eliminating customs duties on the specified goods.
When it comes to importing HS Code 62031910 into the United States, there is data available on the exporting and importing states. According to the provided information, the product has been exported from Vermont. However, there is no specific data on the importing states within the US.
HS Code 62031910 refers to men's or boys' suits made of cotton that are not knitted or crocheted. This code helps in classifying the product for international trade purposes and determining the applicable customs duties and regulations. Importers and exporters can take advantage of special tariff preference programs to reduce or eliminate customs duties based on the specific countries involved in the trade. Understanding the HS code and the associated information is crucial for successful international trade transactions.