Harmonized System Codes • Schedule B • Harmonized Commodity Description

HS Code 42023160: Articles of a Kind Normally Carried in the Pocket or Handbag, with Outer Surface of Leather, Composition or Patent Leather

When it comes to international trade, it is essential to have a standardized system for classifying products. The Harmonized System (HS) code is a globally recognized code that is used for this purpose. HS Code 42023160 specifically refers to articles of a kind normally carried in the pocket or handbag, with an outer surface made of leather, composition, or patent leather.

This HS code is particularly important for customs authorities and importers/exporters as it helps in determining the appropriate duties, taxes, and regulations that apply to the product. Let us delve deeper into the details of this HS code and explore its implications.

Product Description

The product description for HS Code 42023160 specifies that it includes articles that are typically carried in the pocket or handbag. These articles have an outer surface made of leather, composition, or patent leather. The term "nesi" stands for "not elsewhere specified or included," indicating that this HS code covers a wide range of similar products within its scope.

Bound / MFN Duty Rate

The bound / MFN (Most Favored Nation) duty rate for HS Code 42023160 is 8%. 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 8% duty rate is applicable to the import of products falling under this HS code.

Quantity Unit

The quantity unit for HS Code 42023160 is "number" (NO), indicating that the products are measured in terms of the number of units imported or exported.

Special Tariff Preference Programs

Several special tariff preference programs are applicable to products classified under HS Code 42023160. These programs offer preferential duty rates or even duty-free treatment for imports. Here are some of the notable programs and their corresponding rates:

• Free (AU, BH, CA, CL, D, IL, J+, JO, MA, MX, OM, P, PE, R, SG)
• 6.4% (E) Detail:
• Free: Australia Special Rate, Bahrain Special Rate, NAFTA for Canada (duty-free treatment), Chile Special Rate, Africa Growth and Opportunity Act (AGOA) (duty-free treatment), Israel Special Rate (duty-free treatment), Andean Trade Promotion and Drug Eradication Act (ATPDEA), Jordan Special Rate, Morocco Special Rate, NAFTA for Mexico, Oman Special Rate, Dominican Republic-Central American Special Rate (DR-CAFTA), Peru Special Rate, Caribbean Basin Trade Partnership Act (CBTPA), Singapore Special Rate
• 6.4%: Caribbean Basin Initiative (CBI)

Importing US States

Although the provided data does not mention any specific exporting states, it does mention that the product has been imported into the state of New Jersey multiple times. This information indicates that New Jersey is a significant market for products falling under HS Code 42023160.

HS Code 42023160 plays a crucial role in international trade by providing a standardized classification for articles carried in pockets or handbags with an outer surface made of leather, composition, or patent leather. It helps customs authorities, importers, and exporters in determining the appropriate duties, taxes, and regulations applicable to these products. Understanding the implications of the HS code is essential for smooth and compliant cross-border trade.