When it comes to international trade, the Harmonized System (HS) Code plays a crucial role in identifying and categorizing products. One such HS Code is 58079020, which represents badges and similar articles made of textile materials. These articles are not woven or embroidered and can be found in the form of pieces, strips, or cut to specific shapes and sizes.
Understanding the HS Code is essential for importers, exporters, and customs officials to ensure smooth trade operations. Let's take a closer look at the details and implications of HS Code 58079020.
HS Code 58079020 covers badges and similar articles made of textile materials. These articles are not woven or embroidered and are typically found in the form of individual pieces, strips, or cut to specific shapes and sizes. Badges can be used in various applications, including identification, branding, and decoration.
It is important to note that the product description specifies that this HS Code excludes labels. Labels, although also made of textile materials, fall under a different HS Code category.
The bound or Most Favored Nation (MFN) duty rate for products falling under HS Code 58079020 is 3.3%. The MFN duty rate refers to the rate applied to imports from all trading partners when a country lowers a trade barrier or opens up its market.
However, there are certain special tariff preference programs that offer reduced or duty-free rates for specific countries. For example:
Additionally, Australia (AU) enjoys a reduced tariff rate of 2.9%, while Morocco (MA) benefits from a tariff rate of 0.3%.
These tariff preferences are subject to specific agreements and eligibility criteria for each country or region. It is crucial for importers and exporters to understand and comply with the requirements to benefit from these special rates.
The quantity unit for HS Code 58079020 is kilograms (KG). This unit indicates the weight of the imported or exported articles and is used for proper measurement and valuation purposes.
HS Code 58079020 applies to trade involving various importing and exporting US states. The specific states involved in the import and export of badges and similar textile articles depend on the trading partners and the demand for these products.
It is important for businesses engaged in international trade to be aware of the specific regulations and requirements of each state, as they may vary in terms of licensing, documentation, and customs procedures.
HS Code 58079020 represents badges and similar articles made of textile materials that are not woven or embroidered. Understanding this code is essential for importers, exporters, and customs officials to ensure accurate classification and proper application of tariffs.
By knowing the product description, tariff rates, special tariff preference programs, quantity unit, and the states involved in trade, businesses can navigate international trade more effectively and optimize their operations.