Footwear is an essential part of our daily lives, providing comfort and protection to our feet. If you are in the business of importing or exporting footwear, it's crucial to understand the HS Code system. In this article, we will explore the HS Code 64042020 in detail, including its product description, duty rates, special tariff preference programs, and the states involved in importing and exporting this product.
The HS Code 64042020 refers to footwear with outer soles made of leather or composite leather. These shoes should not exceed 50% of their weight in rubber or plastic, or rubber/plastic/textile combined. Additionally, the footwear should contain at least 10% rubber or plastic by weight. The value of each pair of shoes should not exceed $2.50.
The bound or Most Favored Nation (MFN) duty rate for HS Code 64042020 is 15%. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. The 15% duty rate applies to all countries importing or exporting footwear falling under this HS Code.
The quantity unit for HS Code 64042020 is pairs (PRS). This means that the quantity of footwear will be measured and recorded in pairs.
Several special tariff preference programs are available for footwear falling under HS Code 64042020. These programs provide either duty-free treatment or reduced duty rates for importing countries. Listed below are the special tariff preference programs and the corresponding countries:
The countries mentioned above offer preferential treatment to footwear imports from the United States, either through duty-free treatment or reduced duty rates of 1.8% for Singapore.
HS Code 64042020 is imported by several states in the United States. The states involved in importing this footwear are:
These states play a significant role in the importation of footwear falling under HS Code 64042020. If you are an exporter looking to target the US market, these states may be some of your potential customers.
Unfortunately, the data provided does not specify the states involved in exporting footwear under HS Code 64042020. However, it is essential to conduct market research and identify potential exporting states based on demand, production capabilities, and existing trade relationships.
understanding the HS Code 64042020 is crucial for anyone involved in importing or exporting footwear with outer soles of leather or composite leather. This article has provided an in-depth overview of the product description, duty rates, special tariff preference programs, and the states involved in importing footwear under this HS Code. By familiarizing yourself with this information, you can navigate the international trade landscape more effectively and make informed business decisions.