In international trade, the Harmonized System (HS) Code is used to classify products and determine the applicable customs duties and taxes. HS Code 46021223 specifically refers to articles made of rattan that are normally carried in the pocket or handbag. This article will provide an extensive overview of the HS Code 46021223, including its product description, duty rates, quantity unit, and special tariff preference programs.
The product description for HS Code 46021223 is "Articles of a kind normally carried in the pocket or in the handbag, of rattan." Rattan is a type of palm plant that is commonly used to make furniture and other household items. In this case, it is used to make small articles that can be easily carried in pockets or handbags.
Rattan is known for its durability and flexibility, making it an ideal material for creating portable items. Common examples of articles covered under this HS Code include rattan wallets, cardholders, keychains, and small decorative items.
The bound or Most Favored Nation (MFN) duty rate for HS Code 46021223 is 9%. The MFN principle states that every time a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This means that the duty rate of 9% applies to imports of rattan articles under this HS Code from all countries unless they qualify for special tariff preference programs.
The quantity unit for HS Code 46021223 is "number" (NO). This means that the quantity of rattan articles imported or exported is measured in individual units, such as pieces or items.
HS Code 46021223 is eligible for various special tariff preference programs that provide duty-free treatment or reduced duty rates for imports and exports. The following countries and programs offer special rates for rattan articles:
These special tariff preference programs aim to promote trade and economic cooperation between countries by reducing or eliminating customs duties on specific products, including rattan articles covered under HS Code 46021223.
HS Code 46021223 applies to imports and exports of rattan articles in all states of the United States. This means that businesses and individuals can engage in trade involving rattan articles under this HS Code regardless of their location within the country.
HS Code 46021223 pertains to articles made of rattan that are typically carried in pockets or handbags. The product description, duty rates, quantity unit, and special tariff preference programs associated with this HS Code provide valuable information for traders and importers/exporters. Understanding these details can help businesses make informed decisions and navigate the complexities of international trade.