When it comes to international trade, it is essential to have a standardized system in place to classify and identify different products. This is where the Harmonized System (HS) Code comes into play. The HS Code 42023920 refers to a specific category of products: articles that are typically carried in a pocket or handbag, excluding those made of leather, plastic sheeting, textile materials, vulcanized fiber, or paperboard. These articles have a paper cover and are made of wood.
The HS Code 42023920 is used by customs authorities and traders worldwide to determine the applicable customs duties and regulations for these types of products. In this article, we will delve deeper into the details of this HS Code and provide more information about the product description, duty rates, quantity units, and special tariff preference programs associated with it.
The products falling under HS Code 42023920 are items that are commonly carried in pockets or handbags. However, they are specifically excluded if they are made of leather, plastic sheeting, textile materials, vulcanized fiber, or paperboard. These articles have a paper cover and are made of wood. Examples of such products may include wooden notepads, pocket-sized wooden organizers, or wooden wallets.
The bound or most-favored-nation (MFN) duty rate for the HS Code 42023920 is 3.3%. The MFN duty rate is the rate that applies to a product when a country lowers a trade barrier or opens up a market. It is important to note that this duty rate should be consistently applied to the same goods or services from all trading partners of the country.
The quantity unit for the HS Code 42023920 is a number (NO). This indicates that the products are typically measured and traded based on the number of individual units rather than weight, volume, or any other unit of measurement.
Several special tariff preference programs are available for products classified under HS Code 42023920. These programs provide preferential treatment in terms of duty rates for eligible countries. The following countries or regions currently enjoy special tariff preferences for this HS Code:
While no specific information is provided about the exporting US states for products classified under HS Code 42023920, it is worth noting that New Jersey appears to be the importing state based on the data provided. This suggests that New Jersey is a significant destination for these types of products.
the HS Code 42023920 relates to articles typically carried in pockets or handbags, excluding those made of specific materials. It is crucial for traders and customs authorities to correctly classify and identify these products using the HS Code to ensure compliance with customs regulations and to benefit from any special tariff preference programs that may apply.