When it comes to international trade, it is essential to have a standardized system for identifying and classifying products. The Harmonized System (HS) is a globally recognized system used for this purpose. Each product is assigned a unique HS code, which helps in streamlining trade processes and facilitating accurate data analysis.
One such HS code is 41071280, which corresponds to grain split whole bovine (not buffalo) and equine leathers. These leathers are specifically classified as "not elsewhere specified or included" (nesoi) and are prepared after tanning or crusting. They are fancy leathers, excluding those falling under HS code 4114.
Grain split leathers refer to leathers that have been split from the top grain layer. This process helps to achieve a more uniform thickness and a smooth, consistent surface. The resulting leather is often used for various applications, including footwear, upholstery, and small leather goods.
Now, let's delve deeper into the details of HS code 41071280:
The bound or Most Favored Nation (MFN) duty rate for products under HS code 41071280 is 2.4%. The MFN principle ensures 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 encourages fair and equal treatment in international trade.
The unit of measurement for products classified under HS code 41071280 is square meters (M2). This unit is used to quantify the surface area of the leather.
Several special tariff preference programs provide favorable treatment for products falling under HS code 41071280. These programs aim to promote trade and economic cooperation between countries. The following countries or regions provide special tariff rates or duty-free treatment for these leathers:
These special tariff preference programs aim to reduce or eliminate import duties, making it more economically viable for businesses to trade these leathers.
Being a globally traded product, grain split whole bovine and equine leathers under HS code 41071280 are imported and exported by various US states. Some of the notable importing states include:
These states have a significant demand for these leathers due to their thriving footwear and upholstery industries.
On the other hand, the US states that are major exporters of grain split whole bovine and equine leathers include:
These states have well-established leather processing industries and export their products to various countries across the globe.
HS code 41071280 plays a crucial role in identifying and classifying grain split whole bovine and equine leathers. Understanding the details of this HS code, including the duty rates, quantity unit, and special tariff preference programs, is vital for businesses and individuals involved in international trade. It helps ensure compliance with trade regulations and enables efficient import and export processes.