When it comes to international trade, it is essential to have a standardized system to classify goods and products. This is where the Harmonized System (HS) Code comes into play. Each product is assigned a unique HS Code, which helps in streamlining international trade and ensuring consistency in trade regulations.
HS Code 62042940 refers to women's or girls' ensembles, not knitted or crocheted, of textile materials nesoi. This code provides a clear description of the product, allowing for easy identification and classification during import and export processes.
The Bound/MFN duty rate associated with HS Code 62042940 is crucial for understanding the tariffs imposed on these ensembles. The rate applicable to each garment in the ensemble if separately entered signifies that each individual garment within the ensemble will be subject to the specified duty rate. It is important to note that duty rates may vary from country to country and can change over time.
Quantity unit for HS Code 62042940 is measured in dozens (DOZ). This unit of measurement helps in accurately determining the quantity of ensembles being imported or exported.
There are also special tariff preference programs associated with HS Code 62042940. These programs allow for reduced or duty-free rates for certain countries. The following countries enjoy the special tariff preference program for this HS Code: Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, Singapore, Australia, and Morocco. These programs aim to promote trade and strengthen economic relations between the participating countries.
When it comes to importing products with HS Code 62042940, certain US states are more active than others. According to the data provided, Vermont has been the primary importing state for these ensembles. Other states that have imported these ensembles include Arkansas, Maine, Mississippi, Nevada, and North Carolina. This information can be helpful for businesses looking to target specific states for their export efforts.
On the other hand, the data does not provide information about the exporting US states for this particular HS Code. However, it is important to note that the HS Code is used internationally, and these ensembles may be exported from various countries around the world.
HS Code 62042940 plays a vital role in the international trade of women's or girls' ensembles made of textile materials. It helps in classifying the product, determining duty rates, and identifying special tariff preference programs. Understanding the HS Code system is essential for businesses and individuals involved in import and export activities, as it ensures compliance with trade regulations and facilitates smooth trade transactions.