The HS code 64061050 refers to formed uppers for footwear made of materials other than leather, composite leather, or textile materials. This code is used to classify and identify this specific type of footwear component for international trade purposes. Understanding the details of the HS code is crucial for importers, exporters, and customs officials to ensure accurate classification and appropriate duties and tariffs.
When it comes to trade barriers and market accessibility, the MFN (Most Favored Nation) duty rate for HS code 64061050 is 26.2%. The MFN principle states that when a country reduces trade barriers or opens up its market, it must do so for all its trading partners. This ensures fair and equitable treatment for all countries involved in trade.
The quantity unit for HS code 64061050 is pairs (PRS), indicating that the measurement and pricing of formed uppers for footwear are based on pairs rather than individual pieces.
There are several special tariff preference programs associated with HS code 64061050. These programs offer reduced or duty-free rates for specific countries. The following countries enjoy free tariff rates: Australia, Bahrain, Canada (under NAFTA), Chile, Denmark, Israel, Jordan, Morocco, Mexico (under NAFTA), Oman, Peru, and the United States (under the Caribbean Basin Trade Partnership Act). Additionally, Singapore has a special rate of 7.8% for this HS code.
Importing US states for HS code 64061050 include Arkansas, Kansas, Massachusetts, Mississippi, South Carolina, Tennessee, Minnesota, and New Hampshire. These states have a demand for formed uppers for footwear made of materials other than leather or textile materials.
While this article provides an overview of HS code 64061050, it is important for businesses and individuals involved in international trade to consult official sources and seek professional advice to ensure accurate classification and compliance with customs regulations. Understanding HS codes and their implications is essential for successful and efficient international trade operations.