Footwear is an essential part of our daily lives, providing comfort and protection for our feet. The HS Code 64029140 refers to footwear with outer soles and uppers made of rubber or plastics, not elsewhere specified. This particular HS code covers ankle-covering footwear with an external surface of uppers that are composed of over 90% rubber or plastics.
When it comes to international trade, the HS code plays a crucial role in classifying and identifying specific products for customs purposes. It helps in determining the duties, taxes, and regulations applicable to the imported or exported goods. The HS code 64029140 is used to categorize and track the trade of this particular type of footwear.
One important aspect to consider in international trade is the bound or most-favored-nation (MFN) duty rate. The bound duty rate for HS code 64029140 is 6%. This means 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 equitable treatment for all countries involved in the trade.
The quantity unit for HS code 64029140 is pairs (PRS). This unit helps in accurately measuring and quantifying the footwear being imported or exported. It allows for easy tracking and calculation of quantities, making trade transactions more efficient.
There are also special tariff preference programs available for footwear classified under HS code 64029140. These programs provide certain countries with preferential treatment or even duty-free access to the US market. Some of the special tariff preference programs applicable to this HS code include:
These special tariff preference programs aim to promote trade and economic development between the United States and these countries. They provide benefits such as reduced or eliminated duties, making it more financially viable for businesses to import or export footwear under HS code 64029140.
When it comes to importing this specific type of footwear into the United States, there are several states that have been identified as major importers. These states include Minnesota, Virginia, and Arkansas. These states play a significant role in the trade of HS code 64029140, contributing to the overall import volume and distribution within the country.
On the other hand, the exporting states for HS code 64029140 are not specified in the available data. However, it is worth noting that the United States is a major exporter of various goods, including footwear. With its advanced manufacturing capabilities and high-quality products, the US has a strong presence in the global footwear market.
HS code 64029140 relates to footwear with outer soles and uppers made of rubber or plastics, covering the ankle, with an external surface of uppers consisting of over 90% rubber or plastics. This HS code plays a crucial role in classifying, tracking, and regulating the trade of this specific type of footwear. Importing states like Minnesota, Virginia, and Arkansas are major players in the import of this product, while the exporting states are not specified. Understanding the HS code and its associated regulations is essential for businesses involved in the international trade of footwear.