Ties, bow ties, and cravats are popular accessories worn by individuals to enhance their formal and casual attire. These fashion items, made of textile materials, add elegance and style to any outfit. In international trade, these products are classified under HS Code 62159000.
The HS Code 62159000 specifically refers to ties, bow ties, and cravats that are not knitted or crocheted. This code helps customs authorities and traders accurately identify and classify these products for import and export purposes.
When importing ties, bow ties, and cravats classified under HS Code 62159000, it is important to consider the applicable duty rates. The bound or most-favored-nation (MFN) duty rate for these products is 5%. 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.
The quantity unit for ties, bow ties, and cravats is dozens (DOZ). This unit of measurement is commonly used in international trade to facilitate the calculation and tracking of quantities.
There are also special tariff preference programs that apply to ties, bow ties, and cravats classified under HS Code 62159000. These programs offer reduced or zero duty rates for eligible countries. Some of the special tariff preference programs applicable to these products include:
Additionally, some countries have specific special rates for ties, bow ties, and cravats. For example:
It is important for importers and exporters to be aware of these special tariff preference programs and rates to take advantage of cost-saving opportunities and comply with trade regulations.
When it comes to the importing of ties, bow ties, and cravats classified under HS Code 62159000, certain states in the United States are known to be major importers. These states include North Carolina and Ohio. These states have a significant demand for these fashion accessories, indicating their popularity among the local population.
ties, bow ties, and cravats classified under HS Code 62159000 are essential fashion accessories that add style and sophistication to any outfit. Importers and exporters should be aware of the applicable duty rates, quantity units, and special tariff preference programs to ensure smooth and cost-effective trade transactions.