When it comes to international trade and commerce, it is important to have a standardized system to classify and identify goods. The Harmonized System (HS) Code is a globally recognized system used by countries to categorize and define different products. In this article, we will explore HS Code 62052020, which refers to men's or boys' shirts made of cotton that are not knitted or crocheted.
HS Code 62052020 specifically covers shirts for men or boys that are made of cotton and not knitted or crocheted. This code helps to ensure that these specific types of shirts are accurately identified and classified for import and export purposes. The HS Code allows for consistency and clarity in international trade, making it easier for customs officials and traders to identify the products being imported or exported.
One important aspect of the HS Code is the bound or most-favored-nation (MFN) duty rate. The bound duty rate for HS Code 62052020 is 19.7%. This means that whenever 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 bound duty rate provides a standard rate that countries must adhere to when importing or exporting shirts under this HS Code.
The quantity unit for HS Code 62052020 is dozens (DOZ). This unit of measurement helps to determine the quantity of shirts being imported or exported. It is important to note that the HS Code does not specify the size or style of the shirts, only that they are for men or boys and made of cotton.
Special tariff preference programs exist for HS Code 62052020 in certain countries. For example, the following countries provide duty-free treatment for these shirts: Bahrain (BH), Canada (CA) under NAFTA, Chile (CL), Israel (IL), Jordan (JO), Mexico (MX) under NAFTA, Oman (OM), Panama (P), Peru (PE), and Singapore (SG). Australia (AU) provides a special rate of 8% for these shirts. Morocco (MA) also has a special rate, but additional details can be found under the subheadings 9912.62.76-9912.62.78.
When it comes to importing HS Code 62052020 into the United States, the following states are known for their imports: New York, Pennsylvania, Virginia, and Maine. These states have a significant demand for men's and boys' shirts made of cotton, contributing to their import volumes.
Overall, HS Code 62052020 plays a vital role in international trade by classifying and identifying men's or boys' shirts made of cotton that are not knitted or crocheted. The code ensures consistency and clarity in import and export processes, allowing for easier identification and classification of these specific products. Understanding the details and implications of the HS Code is crucial for businesses and individuals involved in global trade.