When it comes to international trade, it is important to have a standardized system for classifying goods. The Harmonized System (HS) Code is a globally recognized system that assigns a unique code to each product being traded. In this article, we will explore the HS Code 62059040, which is assigned to men's or boys' shirts, not knitted or crocheted, of textile materials, nesoi.
The HS Code 62059040 provides a detailed description of the product. It specifies that the shirts are for men or boys and are made of textile materials. The term "nesoi" stands for "not elsewhere specified or included," indicating that this code is used for shirts that do not fall under any other specific category.
Importing this product into a country may be subject to various duties. The bound or Most Favored Nation (MFN) duty rate for HS Code 62059040 is 2.8%. 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. It ensures fair treatment for all countries involved in international trade.
The quantity unit for HS Code 62059040 is dozens (DOZ). This means that the shirts are typically imported or exported in multiples of twelve.
There are also special tariff preference programs available for this product. In some countries, such as Australia, Bahrain, Canada, Chile, Israel, Jordan, Mexico, Oman, Peru, Singapore, the shirts are duty-free. This means that they can be imported into these countries without any additional taxes or tariffs. However, in Morocco, a special rate of 0.2% applies to the import of these shirts.
When it comes to importing HS Code 62059040 into the United States, certain states are more active in this trade. The top importing states for this product are New York, Pennsylvania, Virginia, and Maine. These states have a higher demand for men's or boys' shirts made of textile materials.
On the other hand, the exporting states for HS Code 62059040 from the United States are not specified in the provided data. However, it can be assumed that these shirts are exported to various countries around the world, depending on the demand and market conditions.
the HS Code 62059040 is used for men's or boys' shirts, not knitted or crocheted, of textile materials, nesoi. It provides a standardized classification system for international trade and helps in determining duties and tariff preferences. Understanding the HS Code is essential for importers, exporters, and governments to ensure fair and efficient trade practices.