When it comes to international trade, it is essential to have a standardized system for classifying products. The Harmonized System (HS) Code is a globally recognized system that categorizes goods based on their characteristics, composition, and purpose. HS Code 64035111 specifically refers to a type of footwear with outer soles made of leather and uppers made of leather, covering the ankle. These shoes are unique as they are constructed on a base or platform made of wood and do not have an insole or metal toe-cap.
Understanding the HS Code is crucial for importers and exporters as it helps facilitate trade by providing a universal language for categorizing products. By using the HS Code, it becomes easier to determine the applicable tariffs, duties, and regulations associated with a specific product.
Under the principle of Most Favored Nation (MFN), countries are required to treat all their trading partners equally. This means that when 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. In the case of HS Code 64035111, the bound / MFN duty rate is free. This indicates that there are no additional tariffs or duties imposed on the import or export of this product.
Some countries have established special tariff preference programs to promote trade and economic cooperation. These programs often provide reduced or eliminated duties for specific goods from eligible countries. For HS Code 64035111, the following special tariff preference programs apply:
While HS Code 64035111 applies to the import and export of footwear with specific characteristics, it is also essential to consider the specific regions or states involved in trade. In the case of importing this product into the United States, the following states are significant:
These states play a significant role in importing footwear classified under HS Code 64035111, potentially indicating a demand for this particular type of product in those regions.
While the data provided does not specify the exporting US states for HS Code 64035111, it is important to consider the potential sources of this product within the United States. These states could include those with a strong manufacturing industry, a history of producing footwear, or a significant presence in the global export market.
Understanding the HS Code 64035111 and its associated data is essential for businesses engaged in international trade. By knowing the applicable duty rates, special tariff preference programs, and the regions involved in importing and exporting, companies can make informed decisions and maximize their opportunities in the global market.