When it comes to international trade, it is crucial to have a standardized system that classifies and identifies goods. This is where the Harmonized System (HS) code comes into play. One such HS code is 60062210, which represents dyed circular knit fabric made entirely of cotton yarns.
This HS code is used to classify and categorize this specific type of fabric in international trade. It helps customs authorities, importers, and exporters identify the product accurately, ensuring seamless trade transactions.
The product description associated with HS code 60062210 is "wholly of cotton yarns over 100 metric number per single yarn, nesoi." This means that the fabric is made entirely of cotton yarns and has a metric number higher than 100 per single yarn.
Now let's dive deeper into the information related to this HS code.
The bound / most-favored-nation (MFN) duty rate for HS code 60062210 is 10%. The MFN duty rate is the rate countries must apply to imports from all their trading partners. It ensures that trade barriers are lowered or eliminated uniformly for all goods or services.
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 promotes fair and equal trade opportunities between countries.
The quantity unit for HS code 60062210 is kilograms (KG). This means that the weight of the fabric is measured in kilograms when importing or exporting it.
There are several special tariff preference programs associated with HS code 60062210. These programs offer different tariff rates for countries that qualify for preferential treatment. Here are some of the special rates:
These special tariff preference programs aim to promote trade and strengthen economic relations between countries by offering reduced or eliminated tariffs for qualifying goods.
HS code 60062210 applies to both importing and exporting activities in the United States. This means that the fabric can be imported into the United States from various countries or exported from the United States to other countries.
Whether you are an importer or exporter, understanding the HS code and its associated information is essential for smooth and compliant international trade transactions.
HS code 60062210 represents dyed circular knit fabric made entirely of cotton yarns. It has a bound / MFN duty rate of 10% and is measured in kilograms. Various special tariff preference programs offer different rates for imports of this fabric, promoting trade between countries. Importing and exporting activities involving HS code 60062210 can take place in multiple US states.