When it comes to international trade, it is essential to have a standardized system in place to classify and identify various goods. The Harmonized System (HS) Code serves this purpose, providing a unique code for each product to facilitate smooth trade operations. In this article, we will delve into the details of HS Code 99126290, exploring its product description, bound/MFN duty rate, quantity unit, and special tariff preference programs.
HS Code 99126290 refers to a specific category of goods falling under subheading 6206.40.25. These goods are subject to the regulations and requirements outlined in note 53 TRQ. The product description, although not explicitly mentioned, can be inferred based on its subheading classification.
Subheading 6206.40.25 pertains to men's or boys' suits, ensembles, jackets, blazers, trousers, and shorts made of synthetic fibers. Therefore, HS Code 99126290 encompasses these specific garments within its scope.
One of the crucial elements of international trade is the determination of duty rates imposed on imported goods. In the case of HS Code 99126290, the bound/MFN (Most Favored Nation) duty rate is applicable.
The concept of the bound/MFN duty rate revolves around the principle of non-discrimination in trade. It ensures that when 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. This principle promotes fair and equitable trade practices.
In the case of HS Code 99126290, the quantity unit is stated as "not available" (NA). This means that the specific unit of measurement for the goods falling under this HS Code is not mentioned or may vary based on the context of the trade transaction.
It is important for importers and exporters to establish a clear understanding of the quantity unit to accurately determine pricing, shipping, and logistics aspects associated with the traded goods.
Special tariff preference programs aim to provide certain benefits or concessions to specific trading partners or goods based on bilateral or multilateral agreements. In the case of HS Code 99126290, a special tariff preference program is applicable, specifically for goods imported from Morocco (MA).
The special rate for goods falling under HS Code 99126290 from Morocco is 11.7 cents per kilogram plus an additional 3% of the import value. This preferential treatment underscores the importance of fostering trade relationships and incentivizing specific trading partners.
HS Code 99126290 is relevant for import and export activities involving the United States. The specific states involved in importing and exporting goods falling under this HS Code may vary based on market demand, production capabilities, and trade agreements.
It is essential for traders and businesses to be aware of the specific states involved in importing and exporting HS Code 99126290 goods. This knowledge aids in determining market potential, identifying potential partners, and complying with any state-specific regulations or requirements.
HS Code 99126290 serves as a vital reference point for the classification and identification of specific goods falling under subheading 6206.40.25. Understanding the product description, bound/MFN duty rate, quantity unit, and special tariff preference programs associated with this HS Code is crucial for importers, exporters, and trade facilitation authorities. By adhering to the guidelines and regulations outlined for HS Code 99126290, businesses can engage in efficient and compliant international trade operations.