When it comes to international trade, it is essential to have a standardized system that classifies goods for customs and statistical purposes. This is where the Harmonized System (HS) code comes into play. The HS code for men's or boys' nightshirts and pajamas, not knitted or crocheted, of cotton, is 62072100.
The HS code 62072100 specifically refers to nightshirts and pajamas made from cotton fabric that are intended for men or boys. This code helps customs authorities and traders in identifying and categorizing these products in international trade transactions.
One crucial aspect of the HS code is the bound or Most Favored Nation (MFN) duty rate associated with the product. In the case of HS code 62072100, the bound duty rate is 8.9%. This means that whenever 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.
The quantity unit for nightshirts and pajamas under this HS code is dozens (DOZ). This measurement allows for easy calculation and tracking of the number of units being traded.
In addition to the bound duty rate, there are also special tariff preference programs associated with HS code 62072100. These programs provide certain countries with preferential treatment in terms of duty rates. Some of the special tariff preference programs applicable to this HS code include:
It is important to note that these special tariff preference programs are subject to change, and traders should always consult the latest regulations and agreements to determine the applicable duty rates for their imports or exports.
When it comes to the United States, the state of Maine is one of the importing states for products classified under HS code 62072100. This indicates that businesses in Maine engage in the importation of men's or boys' nightshirts and pajamas made of cotton fabric.
Overall, the HS code 62072100 plays a crucial role in international trade by providing a standardized classification for men's or boys' nightshirts and pajamas made of cotton fabric. It helps customs authorities, traders, and other stakeholders in accurately identifying and categorizing these products, determining duty rates, and facilitating smooth trade transactions.