Footwear is an essential part of our daily lives, providing comfort, protection, and style. One specific type of footwear that falls under the HS Code 64029160 is footwear with outer soles and uppers made of rubber or plastics, not elsewhere specified, covering the ankle, and valued at no more than $3 per pair. In this article, we will delve into the details of this HS code, exploring its product description, duty rates, quantity units, special tariff preference programs, and importing/exporting US states.
HS Code 64029160 refers to a specific category of footwear. It includes all types of footwear that have both outer soles and uppers made of rubber or plastics, not elsewhere specified. Additionally, these shoes cover the ankle and have a value of no more than $3 per pair. This particular HS code allows for easy identification and classification of this type of footwear in international trade.
The bound or most-favored-nation (MFN) duty rate for footwear falling under HS Code 64029160 is 48%. The MFN duty rate signifies the rate charged on imported goods when a country lowers a trade barrier or opens up a market. It ensures that the same duty rate is applicable to all trading partners for the same goods or services. Therefore, any country importing footwear classified under this HS code will be subject to a duty rate of 48%.
The quantity unit for footwear under HS Code 64029160 is pairs (PRS). This unit of measurement helps in accurately determining the quantity of footwear being imported or exported. Pairing the footwear unit with the HS code allows for efficient tracking and reporting of trade statistics related to this specific category.
Several countries and trade programs offer special tariff preferences for footwear falling under HS Code 64029160. These preferences can significantly impact the cost of importing or exporting such footwear. Here are some notable special tariff preference programs:
These special tariff preference programs offer either duty-free treatment or reduced duty rates for importing footwear classified under HS Code 64029160. It is essential for businesses engaged in international trade to be aware of these programs to optimize their import/export costs and take advantage of preferential trade agreements.
While HS Code 64029160 applies to international trade, it is also relevant to understand the specific US states involved in importing and exporting this category of footwear. Based on the available data, the following US states are involved:
These states play a crucial role in the supply chain and distribution of footwear falling under HS Code 64029160. Understanding the importing states helps businesses identify potential markets and plan their distribution strategies accordingly.
HS Code 64029160 encompasses footwear with outer soles and uppers made of rubber or plastics, not elsewhere specified, covering the ankle, and valued at no more than $3 per pair. This code provides a standardized classification for this specific category of footwear, allowing for efficient international trade. Importers and exporters need to consider the bound duty rate, quantity units, special tariff preference programs, and the involvement of specific US states when dealing with footwear falling under this HS code.