Handbags are essential accessories that serve both practical and fashionable purposes. They come in various shapes, sizes, and materials, catering to different needs and styles. One specific type of handbag is classified under HS Code 42022235. Let's explore this HS code in detail and understand its implications in international trade.
The HS Code 42022235 pertains to handbags that may or may not have a shoulder strap or handle. These handbags have an outer surface made of textile materials and are either wholly or partially made of braid, specifically of abaca. Abaca is a natural fiber derived from the leaf sheaths of the abaca plant, which is native to the Philippines and known for its strength and durability.
The bound / MFN (Most Favored Nation) duty rate for HS Code 42022235 is 8.4%. This rate applies every time a country lowers a trade barrier or opens up a market. It ensures that the same goods or services from all trading partners are subject to the same duty rate. This duty rate is applicable to the import of handbags falling under this HS code.
The quantity unit for HS Code 42022235 is the number (NO). This unit signifies that the quantity of handbags will be measured in numbers or pieces.
There are several special tariff preference programs applicable to the import of handbags under HS Code 42022235. These programs provide certain countries with preferential treatment in terms of duty rates. Here are some of the special tariff preference programs and the corresponding duty rates:
These special tariff preference programs aim to promote trade and strengthen economic ties between countries by providing reduced or duty-free rates for specific goods.
While the data provided does not specify the exporting US states, it mentions that the importing US state for HS Code 42022235 is New Jersey. This indicates that handbags falling under this HS code are imported into New Jersey.
HS Code 42022235 represents handbags made of textile materials with an outer surface of abaca braid. These handbags are subject to an 8.4% bound / MFN duty rate, but they may qualify for lower or duty-free rates under special tariff preference programs. Importers in New Jersey are likely to be involved in the trade of handbags falling under this HS code. Understanding HS codes and their associated details is crucial for importers, exporters, and customs authorities to facilitate international trade.