Sports footwear is an essential part of any athlete's gear. It provides comfort, support, and protection while participating in various sports activities. The HS Code 64021990 specifically refers to sports footwear with outer soles and uppers made of rubber or plastics, which are valued at over $12 per pair.
Understanding the HS code is crucial for importers and exporters as it helps classify products and determine the applicable customs duties and trade policies. The HS code is an internationally recognized system for classifying goods, with each code representing a specific category of products.
In the case of HS Code 64021990, it encompasses sports footwear with specific materials and value thresholds. This code ensures that the customs authorities can accurately identify and categorize these products for proper taxation and customs clearance procedures.
The Bound or Most Favored Nation (MFN) duty rate for HS Code 64021990 is 9%. The MFN duty rate is the rate that applies to a product when a country lowers a trade barrier or opens up its market. It ensures that all trading partners receive the same treatment for the same goods or services.
This means that any country importing sports footwear falling under this HS code will be subjected to a 9% duty rate. It is important for importers to consider this rate when calculating the total cost of importing these goods.
The quantity unit for HS Code 64021990 is pairs (PRS). This unit indicates that the classification and customs declaration are based on the number of pairs of sports footwear being imported or exported.
Using the quantity unit of pairs allows for accurate tracking of the volume of sports footwear being traded between countries. It also facilitates efficient logistics and supply chain management, ensuring proper inventory control and stock management for importers and exporters.
Several special tariff preference programs are available for sports footwear falling under HS Code 64021990. These programs provide specific benefits and preferential treatment in terms of customs duties. Some of these programs include:
These special tariff preference programs allow certain countries or regions to import sports footwear under HS Code 64021990 at reduced or duty-free rates. Importers should be aware of these programs and take advantage of them to optimize cost and competitiveness in the market.
For HS Code 64021990, the data indicates that the importing US states are Minnesota and Virginia. These states are actively involved in the importation of sports footwear with rubber or plastic soles and uppers.
On the other hand, the exporting US states for this specific HS code are not mentioned in the provided data. However, it is essential to note that the United States is a significant player in the global sports footwear industry, both as an exporter and an importer.
The United States produces high-quality sports footwear, and its brands are renowned worldwide. Additionally, the country also imports sports footwear to cater to the diverse demands of its consumers.
Understanding the dynamics of importing and exporting states allows businesses to identify potential partners, explore new markets, and establish strategic trade relationships.
HS Code 64021990 plays a vital role in classifying and regulating the import and export of sports footwear with rubber or plastic soles and uppers. It helps determine the customs duties, quantity units, and special tariff preference programs applicable to these products.
Importers and exporters should familiarize themselves with the HS code system and stay updated on any changes or new tariff preference programs that may affect their trade operations. By doing so, they can optimize costs, comply with regulations, and take advantage of the various benefits provided by international trade agreements.