When it comes to international trade, it is essential to have a standardized system that classifies and categorizes different products. This is where the Harmonized System (HS) Code comes into play. The HS Code is a globally recognized system for classifying products and is used by customs authorities around the world. In this article, we will delve into the details of HS Code 62114100, which pertains to women's or girls' track suits or other garments made of wool or fine animal hair that are not knitted or crocheted.
HS Code 62114100 refers to women's or girls' track suits or other garments that are not knitted or crocheted and are made of wool or fine animal hair. This code specifically focuses on track suits or similar clothing items for women and girls. The use of wool or fine animal hair as the primary material ensures warmth and comfort, making these garments suitable for colder climates.
When importing products under HS Code 62114100, it is important to be aware of the duty rates associated with it. The bound or Most Favored Nation (MFN) duty rate for this code is 12%. The MFN duty rate refers to the rate applied to a product when a country lowers a trade barrier or opens up a market. It is important to note that this duty rate remains consistent for all trading partners of a country.
The quantity unit for HS Code 62114100 is dozens (DOZ). This unit of measurement is commonly used for bulk quantities of garments, including track suits. Importers and exporters dealing with these products need to keep this unit in mind when calculating quantities for trade.
Certain countries have special tariff preference programs in place for products falling under HS Code 62114100. These programs offer reduced or duty-free rates to promote trade and economic cooperation. Here are some examples:
These special tariff preference programs provide opportunities for importers and exporters to benefit from reduced or eliminated duty rates, thus making trade more cost-effective in certain countries.
HS Code 62114100 is relevant not only for international trade but also for trade within the United States. When it comes to importing or exporting products falling under this code, it is essential to consider the specific states involved. The importing and exporting US states can vary based on the specific trade agreements, preferences, and regulations in place.
By understanding and utilizing the HS Code 62114100 effectively, importers and exporters can navigate the international trade landscape more efficiently. It is crucial to stay up to date with any changes or revisions to the HS Code system and the associated duty rates and tariff preference programs to ensure compliance and optimize trade opportunities.