HS Code 42023240 refers to a specific category of products that are typically carried in pockets or handbags. These articles have an outer surface made of cotton and are not of pile or tufted construction. This HS code helps in the classification and identification of these specific items for import and export purposes.
The Bound / MFN (Most Favored Nation) duty rate for products falling under HS Code 42023240 is 6.3%. The MFN duty rate is the rate that a country applies to imports from all its trading partners, ensuring equal treatment for goods or services from all countries. This rate may vary when special tariff preference programs are applied.
The quantity unit for products classified under HS Code 42023240 is the number (NO). This unit helps in determining the quantity or quantity-related information for these articles during trade transactions.
There are various special tariff preference programs applicable to products under HS Code 42023240. These programs provide specific benefits or preferential treatment to certain countries. For example, Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, and Singapore offer duty-free treatment for these articles. Additionally, the Caribbean Basin Initiative (CBI) provides a special rate of 4.9% for importers, and Morocco offers a special rate of 2.8% for these products.
When it comes to importing these articles into the United States, the data does not specify the exporting states. However, for export purposes, the data mentions New Jersey as the exporting state for products falling under HS Code 42023240.
HS Code 42023240 represents articles commonly carried in pockets or handbags, with an outer surface made of cotton and without pile or tufted construction. This code helps in the classification and identification of these products for international trade. Importers and exporters should be aware of the Bound / MFN duty rate, special tariff preference programs, and the quantity unit associated with this HS code to ensure compliance and take advantage of any applicable benefits or duty reductions.