Harmonized System Codes • Schedule B • Harmonized Commodity Description

HS Code 42022240 - Handbags with or without shoulder strap or without handle, with outer surface of textile materials, wholly or in part of braid, nesi

Handbags are one of the most popular and essential fashion accessories for both men and women. They not only serve the purpose of carrying personal belongings but also make a fashion statement. The HS Code 42022240 specifically refers to handbags with or without a shoulder strap or handle, with an outer surface made of textile materials, and may be wholly or in part made of braid. Let's explore more about this HS Code and its implications in international trade.

The HS Code 42022240 is used to classify and categorize handbags based on their characteristics. It provides a standardized way of identifying and tracking these products in international trade. This code is used by customs authorities, importers, exporters, and other stakeholders to ensure proper documentation, tariff calculation, and compliance with trade regulations.

When it comes to the duty rates associated with HS Code 42022240, the bound or most favored nation (MFN) duty rate is 7.4%. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. The duty rate of 7.4% is applicable to handbags falling under this HS Code, regardless of the country of origin.

However, there are special tariff preference programs that offer reduced or even duty-free rates for importing handbags with HS Code 42022240. Some of these programs include:

• Free (AU, BH, CA, CL, IL, JO, MX, OM, P, PE, SG): This means that handbags imported from Australia, Bahrain, Canada, Chile, Israel, Jordan, Mexico, Oman, Panama, Peru, and Singapore are eligible for duty-free treatment.
• 5.7% (E): Handbags imported under the Caribbean Basin Initiative (CBI) are subject to a reduced duty rate of 5.7%. This program aims to promote economic development in eligible Caribbean countries.
• 3.3% (MA): Handbags imported from Morocco are eligible for a reduced duty rate of 3.3% under a special rate agreement.

It is important for importers and exporters to be aware of these special tariff preference programs and take advantage of them to minimize costs and remain competitive in the global market.

When it comes to the quantity unit for handbags with HS Code 42022240, it is measured in numbers (NO). This unit helps in quantifying and tracking the volume of handbags being traded.

While no specific data is provided regarding the exporting US states for handbags with HS Code 42022240, it is worth noting that the importing US state mentioned in the data is New Jersey. This indicates that handbags falling under this HS Code are being imported into New Jersey.

the HS Code 42022240 refers to handbags with specific characteristics made of textile materials, wholly or in part of braid. It is important for businesses involved in the import and export of handbags to understand this code, its associated duty rates, and the special tariff preference programs available. By leveraging these programs, businesses can optimize their operations and remain competitive in the global market.