When it comes to international trade, it is essential to have a standardized system for classifying products. The Harmonized System (HS) provides a universal language for classifying goods, allowing countries to understand and track the flow of goods across borders. One such HS code is 64029925, which refers to footwear with outer soles and uppers of rubber or plastics.
The product description of HS Code 64029925 specifies that it includes footwear that does not cover the ankle, with uppers made of rubber or plastics. Additionally, the footwear must have an external surface area exceeding 90% made of rubber or plastics, with a base made of cork.
Importers and exporters dealing with HS Code 64029925 need to be aware of the various trade regulations and tariff rates associated with this product. One vital aspect to consider is the bound or most-favored-nation (MFN) duty rate, which is set at 12.5%. This means that countries must apply this duty rate consistently for the same goods or services from all trading partners.
The quantity unit for HS Code 64029925 is pairs (PRS). This unit of measurement helps to determine the quantity of footwear being imported or exported, facilitating accurate documentation and trade statistics.
Furthermore, there are special tariff preference programs available for this HS Code. Several countries offer duty-free treatment for footwear classified under HS Code 64029925. These countries include Australia, Bahrain, Canada (under NAFTA), Chile, the European Union, Israel, Japan (J+), Jordan, Morocco, Mexico (under NAFTA), Oman, Peru, and certain regions under the Caribbean Basin Initiative (CBI), Andean Trade Promotion and Drug Eradication Act (ATPDEA), Dominican Republic-Central American Special Rate (DR-CAFTA), and Caribbean Basin Trade Partnership Act (CBTPA). Singapore offers a special rate of 1.50% for footwear imports under this HS Code.
For importers based in the United States, it is crucial to know which states are commonly involved in importing HS Code 64029925 footwear. The data provided indicates that Arkansas and Kansas are the major importing states for this product.
When exporting HS Code 64029925 footwear from the United States, it is essential to consider the target markets and their specific trade regulations. The data provided does not specify the exporting states, so it is recommended to consult with trade experts or refer to the relevant trade documentation for accurate information.
HS Code 64029925 classifies footwear with outer soles and uppers of rubber or plastics, excluding ankle coverage, with an external surface area over 90% made of rubber or plastics and a base made of cork. Importers and exporters dealing with this HS Code should be aware of the bound or MFN duty rate of 12.5% and the various special tariff preference programs available for this product. Understanding the quantity unit, importing/exporting states, and target markets is crucial for successful trade operations involving HS Code 64029925 footwear.