When it comes to international trade, it is essential to have a standardized system for classifying and identifying products. The Harmonized System (HS) code is a globally recognized system that provides a unique code for each product, facilitating trade across borders. In this article, we will explore HS Code 41079980, which refers to bovine (not buffalo) and equine leather that is not whole, without hair on, fancy, and prepared after tanning or crusting, but not falling under HS Code 4114.
The product description for HS Code 41079980 provides specific details about the type of leather it encompasses. It includes bovine (cattle) and equine (horse) leather that is not in its entirety, meaning that it has been processed or cut into smaller pieces. Additionally, this leather does not have any hair on it, and it is categorized as "fancy," indicating that it may have unique finishes or patterns. The leather has undergone tanning or crusting processes, which are methods used to preserve and enhance its quality. However, it is important to note that this HS code excludes leather falling under HS Code 4114, which covers certain specific types of leather.
The bound or Most Favored Nation (MFN) duty rate for HS Code 41079980 is 2.4%. The MFN principle states that whenever a country reduces trade barriers or opens up a market, it must do so for the same goods or services from all its trading partners. This duty rate applies to imports of this leather into various countries.
The quantity unit for HS Code 41079980 is measured in square meters (M2). This unit helps in determining the area or size of the leather being traded. It provides a standardized measurement that can be used by importers and exporters to accurately assess the quantity of leather involved in a transaction.
There are also special tariff preference programs associated with HS Code 41079980. These programs provide preferential treatment in terms of duty rates to certain countries. For this particular HS code, the following countries enjoy free trade or special rates:
These tariff preference programs aim to promote trade and economic cooperation between countries by reducing or eliminating customs duties on specific goods. Importers and exporters operating within these programs can benefit from lower duty rates, making their trade more cost-effective.
HS Code 41079980 is relevant to both importing and exporting US states. This means that US states can both import and export this type of leather. Having a specific HS code for a product allows for efficient tracking of trade statistics and helps in implementing trade policies effectively.
HS Code 41079980 refers to bovine and equine leather that is not whole, without hair on, fancy, and prepared after tanning or crusting. This HS code provides a standardized classification for this type of leather, making it easier for importers, exporters, and customs authorities to identify and track this product. The associated duty rates, quantity unit, and special tariff preference programs further enhance the understanding and facilitation of trade involving this HS code.