When it comes to international trade, the Harmonized System (HS) plays a crucial role in classifying goods and products. The HS Code 61031050 represents a specific category of products - men's or boys' suits, knitted or crocheted, of artificial fibers, nesoi. Let's delve into the details of this HS code and understand its implications in global trade.
Product Description:
The HS Code 61031050 refers to suits designed for men or boys, made from artificial fibers and produced through knitting or crocheting methods. These suits are classified under the broader category of textile and apparel products.
Bound / MFN Duty Rate:
The bound duty rate represents the maximum tariff rate that a country can impose on imported goods. In the case of HS Code 61031050, the bound duty rate is set at "Free." This means that countries are not allowed to impose any tariffs or duties on the import of these suits. It promotes free trade and ensures equal treatment for all trading partners.
Quantity Unit:
The quantity unit for HS Code 61031050 is "number (NO)," which indicates that the measurement unit for these suits is counted in numbers or units. It helps in accurately tracking and reporting the quantity of imported or exported suits.
Special Tariff Preference Programs:
Special tariff preference programs are designed to provide certain benefits or concessions to specific countries or regions. These programs aim to promote trade and economic cooperation between nations. While the article does not mention any specific special tariff preference programs for HS Code 61031050, it's essential to note that such programs may exist and could impact the import or export of these suits.
Importing US States and Exporting US States:
The article does not provide information about the importing or exporting US states for HS Code 61031050. However, it is crucial to highlight that the United States is one of the largest importers and exporters of textile and apparel products globally. Various states within the US have significant textile industries and play a vital role in the trade of men's or boys' suits.
the HS Code 61031050 represents men's or boys' suits, knitted or crocheted, of artificial fibers. It falls under the broader category of textile and apparel products and is subject to a bound duty rate of "Free." While the article lacks information about special tariff preference programs and specific importing or exporting US states, it highlights the significance of this HS code in international trade.