When it comes to international trade, it is important to have a standardized system for classifying products. The Harmonized System (HS) code is an internationally recognized code used to classify products for customs and statistical purposes. HS Code 61179090 refers to parts of garments or clothing accessories that contain under 70% by weight of silk or silk waste, and are knitted or crocheted.
The HS code provides crucial information about the product, allowing customs authorities and traders to accurately identify and classify goods. It helps in determining the applicable duty rates and trade policies associated with the specific product.
For products falling under HS Code 61179090, the bound / MFN duty rate is 14.6%. This means that whenever 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, and the duty rate for these products is set at 14.6%.
The quantity unit for this HS code is dozens (DOZ). This helps in determining the quantity of the product being traded, making it easier for customs authorities and traders to calculate import or export quantities.
There are also special tariff preference programs available for products classified under HS Code 61179090. These programs offer reduced or duty-free rates for certain countries. Here are some examples:
These special tariff preference programs aim to promote trade and economic cooperation between countries. They provide incentives for businesses to import or export goods, ultimately benefiting both the importing and exporting countries.
Importing and exporting of products classified under HS Code 61179090 can occur between various US states and other countries. The specific importing and exporting US states will depend on the trade relationships and demand for these products.
HS Code 61179090 refers to parts of garments or clothing accessories containing under 70% by weight of silk or silk waste, knitted or crocheted. Understanding the HS code is crucial for international trade, as it helps in accurate product classification, determining duty rates, and accessing special tariff preference programs. By using the HS code, traders and customs authorities can ensure smooth and transparent trade transactions.