When it comes to international trade, it is important to have a standard system to classify and identify different products. This is where the Harmonized System (HS) code comes into play. The HS code is a globally recognized system used to classify and define goods for customs and trade purposes. In this article, we will be discussing the HS code 62034340, which refers to men's or boys' trousers, breeches & shorts, made of synthetic fibers, containing under 15% weight down, etc., and containing under 36% weight wool, not water-resistant, and not knitted or crocheted.
The HS code 62034340 provides a detailed description of the product, specifying the materials used, the level of water resistance, and whether it is knitted or crocheted. This information is crucial for customs officials and trade partners to accurately classify and identify the product.
One important aspect to consider in international trade is the duty rate associated with a particular HS code. The bound or most-favored-nation (MFN) duty rate for HS code 62034340 is 27.9%. 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 duty rate is an important factor to consider for importers and exporters, as it directly affects the cost of the product.
In addition to the duty rate, there are also special tariff preference programs that can impact the importation of goods. For HS code 62034340, there are several countries that offer preferential treatment. These include Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, and Singapore. These countries either offer duty-free treatment or a special rate of 8% for the importation of products under HS code 62034340.
Importers and exporters should also be aware of the quantity unit for HS code 62034340, which is dozens (DOZ). This means that the product is typically measured and traded in units of 12.
Now, let's take a look at the specific importing and exporting US states for HS code 62034340. According to the data provided, the importing US states for this product are Vermont, Arkansas, Maine, Mississippi, Nevada, and North Carolina. On the other hand, the exporting US states are not specified in the given data.
the HS code 62034340 refers to men's or boys' trousers, breeches & shorts made of synthetic fibers, with specific composition requirements. This code is essential for classifying and identifying the product for customs and trade purposes. Importers and exporters should be aware of the duty rate, special tariff preference programs, and quantity unit associated with this HS code. Additionally, understanding the specific importing and exporting US states can provide valuable insights for businesses involved in international trade.