When it comes to international trade, it is essential to have a standardized system to classify products. One such system is the Harmonized System (HS) code, which is an internationally recognized system used to classify traded goods. Each product is assigned a unique HS code that helps in identifying and categorizing the product for customs and trade purposes.
One of the HS codes that we will be discussing in this article is HS code 62112048. This code refers to men's or boys' ski-suits nesoi (not elsewhere specified or included) made of textile materials (excluding wool or fine animal hair). These ski-suits must contain under 15% weight down or other feathers, and they should not be water-resistant or knitted/crocheted.
Now, let's delve into more details about this particular HS code:
The product description for HS code 62112048 is as follows: men's or boys' ski-suits nesoi, of textile materials (except wool or fine animal hair), containing under 15% weight down or other feathers, not water-resistant, and not knitted or crocheted. This description provides a clear understanding of the product that falls under this HS code.
The bound / most-favored-nation (MFN) duty rate for HS code 62112048 is 14.9%. The MFN duty rate is the rate charged for importing the product into a country. It is important to note 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. This ensures fair and equal treatment for all trading partners.
The quantity unit for HS code 62112048 is dozens (DOZ). This unit helps in determining the quantity of the product being imported or exported. In this case, the product is measured in dozens, which means it is usually traded in multiples of twelve.
Several countries have special tariff preference programs for products classified under HS code 62112048. These programs offer certain benefits or reduced duty rates for importing or exporting the product. Here are some of the special tariff preference programs for this HS code:
These special tariff preference programs aim to promote trade and provide economic benefits to the participating countries. By offering reduced duty rates or duty-free treatment, these programs encourage trade and facilitate the flow of goods between countries.
HS code 62112048 is relevant for both importing and exporting products in the United States. The specific states involved in importing or exporting this product may vary depending on various factors such as market demand, production capabilities, and trade agreements.
It is important for businesses and individuals involved in international trade to be familiar with the HS codes for the products they are importing or exporting. Understanding the specific HS code helps in ensuring compliance with customs regulations, determining accurate duty rates, and accessing any applicable special tariff preference programs.
HS code 62112048 represents men's or boys' ski-suits nesoi made of textile materials (excluding wool or fine animal hair). This HS code provides a clear classification for customs and trade purposes. The associated duty rate, quantity unit, and special tariff preference programs further enhance the understanding of this HS code. Whether you are engaged in importing or exporting, being knowledgeable about the HS codes relevant to your products is essential for smooth and compliant international trade.