When it comes to international trade, it is essential to have a unified system for classifying and identifying different products. The Harmonized System (HS) Code plays a crucial role in this process. HS Code 65059008 specifically refers to hats and headgear made from hat forms and hat bodies, excluding those made from fur felt.
Let's delve deeper into the details of this HS Code and explore its implications for trade and tariff preferences.
The product description for HS Code 65059008 is hats and headgear made from hat forms and hat bodies. However, it specifically excludes items made from fur felt. This code provides clarity and ensures that the classification of these products is consistent across different countries.
The bound or Most Favored Nation (MFN) duty rate for products falling under HS Code 65059008 is 13.5 cents per kilogram plus 6.3% of the product's value. Additionally, there is an additional charge of 1.9 cents per article. The MFN duty rate ensures that all countries treat the same goods or services equally when it comes to trade barriers and market access.
It is important to note that countries are obligated to lower trade barriers or open up their markets for the same goods or services from all their trading partners. This principle of non-discrimination ensures fair and equal treatment in international trade.
The quantity unit for products classified under HS Code 65059008 is the number of articles (NO). This unit helps in accurately determining the quantity of hats and headgear being imported or exported.
HS Code 65059008 is eligible for various special tariff preference programs in different countries. These programs provide preferential treatment in terms of reduced or zero customs duties. Here are some of the special tariff preference programs applicable to this HS Code:
These special tariff preference programs encourage trade and economic cooperation between countries. They aim to promote regional integration and provide incentives for businesses to engage in cross-border trade.
HS Code 65059008 applies to both importing and exporting hats and headgear made from hat forms and hat bodies. This code is used to track and regulate the trade of these products within the United States.
It is worth noting that the HS Code system is used globally and provides a standardized framework for classifying and identifying products. This ensures transparency, consistency, and accuracy in international trade.
HS Code 65059008 plays a vital role in classifying and regulating the trade of hats and headgear made from hat forms and hat bodies, excluding those made from fur felt. Understanding this code and its implications is crucial for businesses involved in international trade, as it helps in determining applicable customs duties and accessing preferential tariff programs.