When it comes to international trade, it is important to have a standardized system to classify products. The Harmonized System (HS) code is an internationally recognized system used to classify traded goods. Each product is assigned a unique HS code, which helps in identifying and categorizing the goods for customs and statistical purposes.
In this article, we will be discussing the HS code 64039160, which specifically refers to a type of footwear. Let's delve into the product description, duty rates, quantity units, and special tariff preference programs associated with this HS code.
The HS code 64039160 is assigned to footwear that has outer soles made of rubber, plastics, or composition leather. The uppers of the footwear are made of genuine leather and cover the ankle. This type of footwear does not have a welt construction, making it suitable for men, youths, and boys.
This product description provides a clear understanding of the materials used in the production of the footwear and its intended target market. Leather uppers and rubber/plastic soles ensure durability and comfort, making it a popular choice among consumers.
The bound or Most Favored Nation (MFN) duty rate associated with the HS code 64039160 is 8.5%. The MFN duty rate is the rate charged by a country on imports from any other country, which is generally applied to all trading partners. This rate remains consistent unless a country decides to lower its trade barriers or open up its market.
It is important to note that the duty rate provided is an average, and specific rates may vary depending on the country of import. Importers should consult the customs regulations of the specific country to determine the applicable duty rate for this HS code.
The quantity unit used for measuring the footwear classified under HS code 64039160 is pairs (PRS). This unit denotes the number of pairs of footwear being imported or exported. It helps in accurately quantifying the volume of goods being traded and assists in inventory management.
Using pairs as the quantity unit standardizes the measurement, allowing for easy comparison and tracking of trade volumes. It is essential for both importers and exporters to accurately report the quantity in pairs to comply with customs requirements.
Several countries have established special tariff preference programs to promote trade and economic cooperation. The HS code 64039160 may be eligible for preferential treatment under these programs, reducing or eliminating the duty rate applied to imports.
Some of the special tariff preference programs applicable to the footwear classified under HS code 64039160 include:
These special tariff preference programs aim to facilitate trade between countries by reducing or eliminating import duties. Importers should be aware of these programs and take advantage of the benefits they offer to enhance competitiveness and cost-effectiveness.
While the HS code 64039160 is applicable globally, it is worth noting the specific US states that import this type of footwear. The following US states have been identified as importers of footwear classified under this HS code:
These states play a significant role in the importation of this footwear, potentially indicating a strong demand and market for products falling under the HS code 64039160.
While the data does not provide specific information about the US states exporting this footwear, it can be inferred that the exporting states are likely to be different from the importing states mentioned previously. The footwear industry in the United States may have a diverse distribution network, with manufacturing and exporting concentrated in different regions.
Understanding the importing and exporting states can provide insights into the supply chain and logistics involved in the trade of footwear classified under HS code 64039160.
the HS code 64039160 represents footwear with rubber/plastic/composition leather soles and leather uppers, covering the ankle, without welt construction, suitable for men, youths, and boys. The duty rate associated with this HS code is 8.5%, and the quantity unit used is pairs (PRS). Importers may also benefit from special tariff preference programs that offer duty-free treatment or reduced duty rates. By understanding the specifics of this HS code, importers and exporters can navigate the international trade landscape more effectively and make informed decisions.