When it comes to international trade, it is crucial to have a standardized system for classifying and identifying products. The Harmonized System (HS) code is a globally recognized system used for this purpose. Each product is assigned a unique HS code, which helps in determining the customs duties, tariffs, and regulations applicable to that particular product.
HS Code 64029120 specifically refers to footwear with outer soles and uppers made of rubber or plastics, not considered protective, and valued over $3 but not exceeding $6.50 per pair. Let's delve deeper into the details of this HS code and explore the implications it has on international trade.
The product description for HS Code 64029120 is as follows: footwear with outer soles and uppers of rubber or plastics, not protective, and valued over $3 but not exceeding $6.50 per pair. This means that the footwear in question is made of either rubber or plastics, with both the outer sole and upper part constructed using these materials. It is important to note that this type of footwear is not considered protective.
The bound or Most Favored Nation (MFN) duty rate for HS Code 64029120 is 90 cents per pair, along with an additional 37.5% of the value. The MFN duty rate is the standard tariff rate that applies to all countries unless otherwise specified through trade agreements or special tariff preference programs.
The quantity unit for HS Code 64029120 is pairs (PRS). This indicates that the product is measured and traded in pairs.
Several special tariff preference programs exist for HS Code 64029120. These programs offer reduced or duty-free treatment for footwear imports from specific trading partners. Here are some examples:
These special tariff preference programs aim to promote trade and foster economic relationships between countries by offering various benefits, such as reduced tariffs or duty-free treatment for eligible products.
While HS Code 64029120 applies to imports into the United States, it is also essential to consider the specific states where this product is being imported. Based on available data, the following states are involved in importing footwear classified under HS Code 64029120:
These states play a significant role in the importation of this particular type of footwear, contributing to the overall trade volume of HS Code 64029120.
Unfortunately, the provided data does not specify the exporting US states involved in the trade of footwear classified under HS Code 64029120. However, it is safe to assume that the footwear may originate from various states within the United States, depending on the manufacturing and distribution networks.
HS Code 64029120 plays a vital role in the international trade of footwear with rubber or plastics soles and uppers. Understanding the product description, duty rates, special tariff preference programs, and the states involved in importing this product provides valuable insights into the dynamics of global trade and its impact on different regions and economies.