When it comes to international trade, having a standardized system for classifying goods is crucial. The Harmonized System (HS) Code provides a uniform method for categorizing products, making it easier for countries to set tariffs and track trade statistics. One such HS Code is 62112054, which pertains to women's or girls' anoraks, windbreakers, and ski suit accessories made of wool.
Product Description:
When importing goods classified under HS Code 62112054, it is essential to understand the associated duty rates. Currently, the bound or Most Favored Nation (MFN) duty rate for these products is set at 17.5%. This means that every country must apply the same duty rate when lowering trade barriers or opening up their markets to these goods.
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Additionally, various special tariff preference programs are in place for products falling under HS Code 62112054. These programs offer reduced or duty-free treatment for specific countries. The following are the details of these programs:
It is important to be aware of these special tariff preference programs as they can significantly impact the cost of importing products under HS Code 62112054. Taking advantage of these programs can help businesses save on import duties and make their products more competitive in the market.
Finally, it is worth mentioning that the importing and exporting of products under HS Code 62112054 are not limited to specific US states. These products can be imported into and exported from any US state, allowing for nationwide trade opportunities.
HS Code 62112054 represents women's or girls' anoraks, windbreakers, and ski suit accessories made of wool. This code plays a crucial role in international trade, allowing for uniform classification and regulation of these products. Understanding the associated duty rates and special tariff preference programs can help businesses make informed decisions when importing or exporting goods under this HS Code.