When it comes to international trade, it is essential to have a standardized system to classify and identify different products. The Harmonized System (HS) Code is a globally recognized system used for this purpose. In this article, we will explore the HS Code 62046240, which pertains to women's or girls' trousers, breeches, and shorts made of cotton.
The HS Code 62046240 specifically refers to trousers, breeches, and shorts that are not knitted or crocheted. This code helps customs authorities and traders to easily identify and categorize these products during import and export processes.
One important aspect related to trade barriers and market access is the Bound or Most Favored Nation (MFN) duty rate. For products falling under the HS Code 62046240, the Bound or MFN duty rate is set at 16.6%. This means that every time a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners.
When it comes to quantity units, the HS Code 62046240 uses the measurement of dozens (DOZ). This allows for standardized calculations and easy comparison of quantities across different shipments.
There are also special tariff preference programs in place for products falling under the HS Code 62046240. These programs provide certain countries with preferential treatment in terms of duty rates. For example, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, and Singapore enjoy duty-free treatment for these products. Australia, on the other hand, has a special rate of 8%. Additionally, Morocco has a specific special rate as well.
For importers in the United States, the HS Code 62046240 is relevant for several states, including New York, Pennsylvania, and Virginia. These states are likely to have significant import volumes of women's or girls' trousers, breeches, and shorts made of cotton.
It is worth noting that the HS Code 62046240 is not limited to the United States alone. This code is used globally, allowing for seamless trade and accurate classification of products across different countries.
the HS Code 62046240 plays a crucial role in international trade by providing a standardized system for identifying and classifying women's or girls' trousers, breeches, and shorts made of cotton. It helps customs authorities, traders, and policymakers ensure fair and transparent trade practices. Understanding the HS Code and its associated information is vital for importers, exporters, and anyone involved in the global trade industry.