When it comes to international trade, it is essential to have a standardized system for classifying goods. This is where HS codes come into play. HS Code 64029116 represents a specific type of footwear, namely those with outer soles and uppers made of rubber or plastics, a metal toe-cap, and not considered protective. Let's take a closer look at this HS code and explore its implications in global trade.
The product described by HS Code 64029116 refers to a particular category of footwear. These shoes have outer soles and uppers made of rubber or plastics, providing comfort and durability. Additionally, they feature a metal toe-cap, which adds an extra layer of reinforcement to the shoe. However, it is important to note that this type of footwear is not intended for protective purposes. The value of each pair of shoes should not exceed $3.
The bound or most-favored nation (MFN) duty rate associated with HS Code 64029116 is 24%. This means that when a country lowers a trade barrier or opens up a market, it must apply the same duty rate for the same goods or services from all its trading partners. The 24% duty rate is applicable to all imports of this type of footwear, regardless of the country of origin.
The quantity unit for HS Code 64029116 is pairs (PRS). This indicates that the measurement and pricing of the footwear is based on the number of pairs imported or exported.
Several countries have established special tariff preference programs for imports of footwear classified under HS Code 64029116. These programs offer reduced or duty-free treatment, providing economic benefits to both the importing country and the exporters. The following countries have implemented special tariff rates for this category of footwear:
These special tariff preference programs aim to promote trade, strengthen economic ties, and facilitate market access between the countries involved. Importers and exporters should be aware of these programs to take advantage of the reduced or duty-free rates.
In the United States, there are several states that have reported imports of footwear classified under HS Code 64029116. The following states have been identified as importers:
These states play a significant role in the importation of this type of footwear, contributing to the overall trade volume and economic activity in the country.
Unfortunately, the provided data does not specify the exporting states within the United States for footwear classified under HS Code 64029116. However, it is safe to assume that various states engage in the exportation of this type of footwear, contributing to the global supply of these products.
HS Code 64029116 represents a specific category of footwear with rubber or plastic outer soles and uppers, a metal toe-cap, and no protective features. Understanding this HS code is crucial for importers, exporters, and policymakers involved in international trade. By familiarizing ourselves with the product description, duty rates, special tariff preference programs, and trade patterns, we can ensure smooth and efficient trade flows while supporting economic growth.