Apparel goods play a significant role in the global trade market, and the HS Code 98220511 specifically refers to apparel goods of chapter 62 entered under note 21(b) to this subchapter. In this article, we will delve into the details of this HS code and explore its implications in international trade.
When it comes to international trade, every country has certain trade barriers in place. These barriers could be in the form of tariffs, quotas, or other restrictions. However, the World Trade Organization (WTO) promotes the concept of Most Favored Nation (MFN) treatment, which 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. This ensures fairness and equal treatment for all countries.
The bound / MFN duty rate associated with HS Code 98220511 indicates the rate at which these apparel goods are subject to import duties. The specific duty rate may vary depending on the country and the specific trade agreements in place. However, the principle of MFN treatment ensures that the same duty rate is applied to these goods from all trading partners.
Unfortunately, the quantity unit for HS Code 98220511 is not available (NA). This means that the specific unit of measurement for these apparel goods is not specified. However, it is important to note that trade data often includes detailed information about the quantity, such as the weight, volume, or number of units being traded.
In terms of special tariff preference programs, goods under HS Code 98220511 are eligible for free trade under the Dominican Republic-Central American Special Rate (DR-CAFTA). This program allows for duty-free imports and promotes trade between the United States and the participating countries in the Central American region.
When it comes to importing these apparel goods, various states in the United States engage in trade. Some of the major importing states include California, Texas, New York, Florida, and Illinois. These states have significant consumer markets and serve as important entry points for goods entering the United States.
On the other hand, exporting states refer to the regions or countries from which these apparel goods originate. Major exporting states for HS Code 98220511 could include countries like China, Bangladesh, India, Vietnam, and Turkey. These countries are known for their textile and garment industries and are major players in the global apparel market.
HS Code 98220511 represents apparel goods of chapter 62 entered under note 21(b) to this subchapter. The bound / MFN duty rate ensures equal treatment for all trading partners, and the special tariff preference program allows for duty-free imports under the DR-CAFTA agreement. While the quantity unit is not specified, this HS code is significant in international trade and impacts various importing and exporting states.