When it comes to international trade, it is essential to have a standardized system for classifying goods. The Harmonized System (HS) provides this classification, and each product is assigned a unique HS code. One such code is 64029105, which represents footwear with outer soles of rubber or plastics, not elsewhere specified or included, with a metal toe-cap and with uppers made up of more than 90% rubber or plastics.
Understanding the HS code is crucial for importers, exporters, and customs officials as it helps in the smooth flow of goods across borders. Let's take a closer look at the product description, duty rates, quantity unit, special tariff preference programs, and the importing and exporting US states associated with HS Code 64029105.
The product covered by HS Code 64029105 is footwear. It includes shoes, boots, or any other type of footwear that meets the following criteria:
This code provides clear guidelines for the characteristics of the footwear, ensuring that it is correctly classified and easily identifiable in international trade.
The bound / MFN duty rate for HS Code 64029105 is 6%. The Most Favored Nation (MFN) principle states that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This ensures fair and equal treatment for all countries involved in international trade.
Understanding the duty rate is essential for importers and exporters to calculate their costs and determine the competitiveness of their products in different markets.
The quantity unit for HS Code 64029105 is pairs (PRS). This means that the quantity of footwear imported or exported is measured in pairs. It is a standardized unit that allows for easy tracking and comparison of trade volumes.
HS Code 64029105 is eligible for various special tariff preference programs. These programs provide preferential treatment in terms of duty rates for specific trading partners. Here are some of the programs and the countries that offer preferential treatment:
These special tariff preference programs aim to promote trade, economic growth, and development between the participating countries. Importers and exporters can take advantage of these programs to reduce their duty costs and enhance their competitiveness in specific markets.
HS Code 64029105 is imported into the following US states:
These states are the primary destinations for this specific type of footwear. Importers should be aware of the regulations and requirements specific to these states when engaging in trade activities.
The exporting US states for HS Code 64029105 are not specified in the available data. However, it is important to note that other states within the United States may engage in exporting this type of footwear to various international markets.
Understanding the HS code, along with the associated details such as product description, duty rates, special tariff preference programs, and the states involved, is essential for a successful international trade operation. Importers, exporters, and customs officials can use this information to ensure compliance, calculate costs, and make informed decisions regarding their trade activities.