HS Code 62041980: Women's or girls' suits, of textile material(except wool,cotton or mmf), containing under 70% by weight of silk or silk waste, not knit/croc
Women's fashion has always been a topic of great interest and fascination. The variety of clothing options available for women is vast and diverse. One such clothing item that has gained popularity over the years is women's suits. These suits are not only fashionable but also versatile, making them a staple in every woman's wardrobe. In this article, we will explore the HS Code 62041980, which specifically refers to women's or girls' suits made of textile material, excluding wool, cotton, or mmf, and containing less than 70% by weight of silk or silk waste, and are not knit or crocheted.
The HS Code 62041980 is an international code used to classify and categorize various products for import and export purposes. It helps in identifying and tracking the movement of goods across different countries. In the case of women's suits, this code ensures that the correct duties and taxes are applied during the import or export process.
The product description mentioned in the HS Code 62041980 provides specific details about the suits. It states that the suits are made of textile material, excluding wool, cotton, or mmf (man-made fibers). Additionally, the suits should contain less than 70% by weight of silk or silk waste. The exclusion of wool, cotton, and mmf suggests that these suits are made of other synthetic or natural fibers, adding to their uniqueness and appeal.
The bound or most-favored-nation (MFN) duty rate associated with HS Code 62041980 is 6.5%. This means that whenever a country lowers a trade barrier or opens up its market, it must apply this duty rate to the same goods or services from all its trading partners. This duty rate helps in maintaining fair trade practices and prevents any discriminatory treatment towards specific countries or products.
The quantity unit for this HS Code is not available (NA). This implies that the specific unit of measurement for the suits is not mentioned or standardized. The absence of a quantity unit does not affect the classification or import/export process but might vary depending on the specific requirements of the importing or exporting country.
There are also special tariff preference programs associated with HS Code 62041980. These programs offer certain countries reduced or duty-free rates for importing women's suits. Some of the programs include:
1. Free Trade Agreement (FTA) with Bahrain (BH), Canada (CA), Chile (CL), Israel (IL), Jordan (JO), Mexico (MX), Oman (OM), Panama (P), Peru (PE), and Singapore (SG).
2. NAFTA (North American Free Trade Agreement) for Canada and Mexico, providing duty-free treatment for women's suits.
3. Certain countries or products excluded from CBI (Caribbean Basin Initiative) eligibility.
4. Special rate for Morocco (MA) at 0.6%.
These special tariff preference programs aim to promote trade and foster economic cooperation between countries. By offering reduced or duty-free rates, they encourage the import and export of women's suits, benefiting both producers and consumers.
In terms of importing US states, HS Code 62041980 has seen significant activity in Vermont, Arkansas, Maine, Mississippi, Nevada, and North Carolina. These states have shown a consistent demand for women's suits made of textile material, excluding wool, cotton, or mmf, and containing less than 70% silk or silk waste. Vermont stands out as the leading importing state for this particular HS Code, highlighting the popularity and preference for women's suits in that region.
On the other hand, the exporting US states for HS Code 62041980 are not specified in the given data. It is essential to note that the exporting states may vary depending on the production capabilities and market demand for women's suits in different regions.
HS Code 62041980 plays a crucial role in the classification and trade of women's or girls' suits made of textile material, excluding wool, cotton, or mmf, and containing less than 70% by weight of silk or silk waste. The associated duty rates, special tariff preference programs, and import/export data provide valuable insights into the global trade dynamics of these suits. By understanding and utilizing the HS Code, businesses and governments can effectively navigate the import and export procedures, ensuring fair trade practices and economic growth in the fashion industry.
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