When it comes to international trade, understanding the Harmonized System (HS) codes can be crucial. These codes, developed by the World Customs Organization (WCO), classify goods for customs purposes. In this article, we will delve into HS Code 62033910, which corresponds to men's or boys' suit-type jackets and blazers made of artificial fibers.
HS Code 62033910 specifically covers suit-type jackets and blazers for men and boys. These garments are made of artificial fibers and must contain 36% or more by weight of wool or fine animal hair. It is important to note that this code excludes jackets or blazers that are knitted or crocheted.
One significant aspect of HS Code 62033910 is the bound or Most Favored Nation (MFN) duty rate. The MFN duty rate stands at 22%. This means that whenever a country reduces a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. Importers should be aware of this duty rate when calculating the overall cost of importing these products.
Several countries offer special tariff preference programs for products classified under HS Code 62033910. The following countries provide duty-free treatment for these goods:
Australia (AU) offers a special rate of 8% for these products, while Morocco (MA) provides a special rate of 2.2%.
While the available data does not specify the quantity unit for HS Code 62033910, it does mention that the importing US state is Vermont. Unfortunately, the data does not provide information on the exporting US states. However, it is worth noting that Vermont is known for its textile industry, which may explain its involvement in importing these suit-type jackets and blazers.
HS Code 62033910 covers men's or boys' suit-type jackets and blazers made of artificial fibers. Understanding the duty rates and special tariff preference programs associated with this code can be vital for importers and exporters alike. By familiarizing themselves with the relevant HS codes, businesses can navigate international trade more effectively.