HS Code 64029923: Footwear with Outer Soles & Uppers of Rubber or Plastics
Footwear is an essential part of our daily lives, providing protection and comfort to our feet. In international trade, different products are categorized and identified using a system called the Harmonized System (HS). Each product is assigned a unique code known as the HS code. In this article, we will explore the HS code 64029923, which refers to footwear with outer soles and uppers made of rubber or plastics, not elsewhere specified, not covering the ankle, with external surface uppers made of over 90% rubber or plastics, and with a base of wood.
The HS code 64029923 provides a detailed description of the specific characteristics of the footwear. It specifies that the footwear has outer soles and uppers made of rubber or plastics, excluding those that cover the ankle. Additionally, the external surface of the uppers is made of over 90% rubber or plastics, and the base of the footwear is made of wood.
When it comes to international trade, countries often impose import duties on certain goods to protect their domestic industries or generate revenue. The bound or most-favored-nation (MFN) duty rate for HS code 64029923 is 8%. This means that every time a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners.
The quantity unit for HS code 64029923 is pairs (PRS), indicating that the footwear is measured and traded in pairs.
There are also special tariff preference programs associated with HS code 64029923. These programs provide specific benefits or exemptions from import duties for countries that meet certain criteria. For this HS code, the following special tariff preference programs apply:
- Free Trade Agreement with Australia (AU)
- Free Trade Agreement with Bahrain (BH)
- Free Trade Agreement with Canada (CA) under NAFTA (duty-free treatment)
- Free Trade Agreement with Chile (CL)
- Free Trade Agreement with the European Union (EU)
- Free Trade Agreement with Israel (IL) (duty-free treatment)
- Free Trade Agreement with Japan (J+)
- Free Trade Agreement with Jordan (JO)
- Free Trade Agreement with Morocco (MA)
- Free Trade Agreement with Mexico (MX) under NAFTA (duty-free treatment)
- Free Trade Agreement with Oman (OM)
- Free Trade Agreement with Panama (P)
- Free Trade Agreement with Peru (PE)
- Free Trade Agreement with Singapore (SG)
- African Growth and Opportunity Act (AGOA) (duty-free treatment)
- Caribbean Basin Initiative (CBI)
- Andean Trade Promotion and Drug Eradication Act (ATPDEA)
- Jordan Special Rate
- Morocco Special Rate
- Dominican Republic-Central American Special Rate (DR-CAFTA)
- Peru Special Rate
- Caribbean Basin Trade Partnership Act (CBTPA)
- Singapore Special Rate
These special tariff preference programs aim to promote trade and economic cooperation between participating countries by reducing or eliminating import duties for HS code 64029923.
In terms of importing, some US states that have been identified as importers of HS code 64029923 are Arkansas and Kansas. These states have a demand for this particular type of footwear and engage in international trade to fulfill their domestic needs.
On the other hand, the exporting US states for HS code 64029923 are not specified in the provided data. However, it is worth noting that the United States is a significant player in the global footwear industry and is likely to have multiple states involved in exporting such products.
HS code 64029923 represents footwear with outer soles and uppers made of rubber or plastics, not covering the ankle, with external surface uppers made of over 90% rubber or plastics, and with a base of wood. This HS code is subject to an 8% bound or MFN duty rate, and various special tariff preference programs provide exemptions or benefits for importing countries. Understanding the HS code and its associated information is crucial for businesses involved in international trade, as it helps ensure compliance and facilitates smooth cross-border transactions.
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