HS Code 41079970: Bovine and Equine Leather
Leather has been a highly sought-after material for centuries, valued for its durability, versatility, and natural beauty. Bovine and equine leather, in particular, are widely used in various industries for their exceptional quality. In this article, we will explore the HS Code 41079970, which encompasses bovine and equine leather that has undergone specific preparations after tanning or crusting.
Product Description:
HS Code 41079970 refers to bovine (not buffalo) and equine leather that is not whole, without hair, and not considered fancy. It includes leather that has been prepared after tanning or crusting, excluding products falling under HS Code 4114.
Bound/MFN Duty Rate:
The bound/MFN duty rate for products falling under HS Code 41079970 is 5%. The MFN (Most Favored Nation) principle states that every time a country lowers a trade barrier or opens up its market, it must do so for the same goods or services from all its trading partners. This ensures fair and non-discriminatory treatment in international trade.
Quantity Unit:
The quantity unit for HS Code 41079970 is square meters (M2). This measurement is commonly used to determine the area of leather required for specific applications.
Special Tariff Preference Programs:
Products falling under HS Code 41079970 may qualify for various special tariff preference programs, providing certain countries with preferential treatment or duty-free access to the market. The following countries are included:
- Australia (Special Rate)
- Bahrain (Special Rate)
- Canada (NAFTA - duty-free treatment)
- Chile (Special Rate)
- Caribbean Basin Initiative (CBI)
- Israel (Special Rate - duty-free treatment)
- Andean Trade Preference Act (ATPA)
- Jordan (Special Rate)
- Morocco (Special Rate)
- Mexico (NAFTA - duty-free treatment)
- Oman (Special Rate)
- Dominican Republic-Central American (DR-CAFTA) (Special Rate)
- Peru (Special Rate)
- Singapore (Special Rate)
These special tariff preference programs aim to promote economic cooperation, development, and trade between participating countries, offering benefits and opportunities for businesses involved in the import and export of bovine and equine leather.
Importing and Exporting US States:
HS Code 41079970 applies to trade involving the United States. Importing states refer to those states within the US that are purchasing bovine and equine leather products, while exporting states are those states within the US that are selling or exporting these products.
Conclusion:
HS Code 41079970 covers bovine and equine leather that has undergone specific preparations after tanning or crusting. Understanding this HS code is essential for importers, exporters, and businesses involved in the trade of leather products. The special tariff preference programs and the MFN duty rate associated with this code provide valuable information for those seeking to navigate international trade regulations and take advantage of preferential treatment opportunities.
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