When it comes to international trade, it is crucial to have a standardized system to classify goods. This is where the Harmonized System (HS) code comes into play. HS Code 41071260 specifically refers to grain split whole upper and sole leather of bovines (not buffalo) or equines, without hair on, that has been prepared after tanning or crusting, excluding goods falling under HS Code 4114.
The HS code serves as a universal language for identifying and categorizing products in international trade. It is used by customs authorities and traders to determine the appropriate duty rates and regulations for importing and exporting goods.
In the case of HS Code 41071260, the product description specifies that it pertains to grain split whole upper and sole leather. Grain split leather refers to the layer of leather that is obtained by splitting the top grain from the lower layer. This type of leather is commonly used in the production of footwear and other leather products.
The HS code also indicates that the leather covered under this code must be sourced from bovines (excluding buffalo) or equines. Bovines include cattle, while equines refer to horses and other similar animals. It is important to note that the code does not cover leather from other animals or goods falling under HS Code 4114.
The quantity unit for this particular HS code is square meters (M2). This means that the measurement for determining the quantity of the leather will be in square meters rather than other units such as kilograms or pieces.
In terms of duty rates, the bound/MFN (Most Favored Nation) duty rate for HS Code 41071260 is 3.3%. The MFN principle states 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. This ensures equal treatment and non-discrimination in international trade.
Additionally, there are special tariff preference programs available for this HS code. The following countries or regions offer preferential treatment:
These special tariff preference programs provide various benefits such as duty-free treatment or reduced duty rates for eligible imports from the specified countries or regions.
Importing and exporting goods under HS Code 41071260 is subject to the regulations and requirements of both the importing and exporting US states. It is important for traders to familiarize themselves with the specific rules and procedures applicable to their respective states.
HS Code 41071260 pertains to grain split whole upper and sole leather of bovines or equines, without hair on, that has been prepared after tanning or crusting. It is crucial for traders to accurately classify their goods using the HS code system to ensure compliance with customs regulations and benefit from any applicable tariff preference programs.