The HS Code 62031950 refers to men's or boys' suits made of textile mats, excluding wool, cotton, or man-made fibers. These suits must contain 70% or more by weight of silk or silk waste and should not be knitted or crocheted.
When it comes to international trade, each country follows certain regulations and duties for importing or exporting goods. The Bound/MFN duty rate for HS Code 62031950 is 3.8%. 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.
The quantity unit for HS Code 62031950 is measured in numbers (NO), indicating the number of suits being imported or exported.
There are several special tariff preference programs associated with this HS Code:
These special tariff preference programs allow certain countries to import or export the mentioned product at reduced or duty-free rates, depending on their eligibility and trade agreements with the United States.
Importing of HS Code 62031950 suits to the United States is most frequently done by the state of Vermont. It is important for importers to comply with all relevant regulations and documentation requirements when bringing in these suits to the country.
On the other hand, the exporting of HS Code 62031950 suits from the United States does not specify any particular states.
It is crucial for businesses involved in the trade of men's or boys' suits of textile mats to understand the HS Code 62031950 and its associated regulations, duties, and special tariff preference programs. By complying with these guidelines, importers and exporters can effectively navigate international trade and ensure smooth operations.