When it comes to international trade, there are certain codes and classifications that are used to identify specific products. One such code is the HS code, which stands for Harmonized System code. HS codes are used globally to classify and categorize goods for trade purposes. In this article, we will be discussing the HS code 62113300, which pertains to men's or boys' track suits or other garments made of man-made fibers that are not knitted or crocheted.
The HS code 62113300 provides a detailed description of the product it represents. In this case, it refers to track suits or other similar garments for men or boys that are made of man-made fibers. These garments are specifically not knitted or crocheted, which means they are likely to be made of materials such as polyester or nylon.
Importers and exporters need to be familiar with the HS code system as it helps in identifying the correct classification for their products. This is important because the HS code determines the applicable customs duties, taxes, and regulations for a particular product. It also helps in streamlining trade processes and enables effective communication between trading partners.
For the HS code 62113300, the bound or Most Favored Nation (MFN) duty rate is set at 16%. The MFN duty rate is the standard rate that applies to all trading partners equally. It ensures that when 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. This promotes fair and non-discriminatory trade practices.
The quantity unit for the product classified under HS code 62113300 is dozens (DOZ). This means that when importing or exporting these track suits or similar garments, they are typically measured and traded in multiples of dozens.
There are also special tariff preference programs available for this product under certain circumstances. For example, the track suits or garments classified under HS code 62113300 are eligible for free trade under the following countries' special rate programs: Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Peru, and Singapore. This means that importers or exporters trading with these countries can benefit from duty-free treatment.
It is important to note that there are some exceptions to the duty-free treatment under the special tariff preference programs. For example, Morocco offers a special rate of 12.8% for this product, and Oman offers a special rate as well. These exceptions highlight the need for importers and exporters to stay updated with the specific regulations and rates applicable to their trading partners.
In the United States, the importing and exporting of products classified under HS code 62113300 can take place between various states. The specific states involved in the trade will depend on the individual import or export transaction.
the HS code 62113300 represents men's or boys' track suits or other garments made of man-made fibers that are not knitted or crocheted. This code helps in identifying and classifying the product for trade purposes, determining the applicable customs duties and regulations, and facilitating international trade. Importers and exporters should be aware of the specific details and special tariff preference programs associated with this HS code to optimize their trade operations.