Hats and headgear are an essential part of our everyday attire, providing both style and functionality. The HS Code 65059030 specifically refers to hats and headgear made from wool, whether knitted or crocheted, or made up from knitted or crocheted fabric. In this article, we will delve deeper into the details of this HS code and explore its implications for trade and import/export activities.
According to the HS Code 65059030, the bound/MFN (Most Favored Nation) duty rate for hats and headgear of wool is 25.4 cents/kg plus 7.7%. This means that when 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. This duty rate is applicable to every kilogram of hats and headgear imported or exported under this HS code.
The quantity unit for hats and headgear of wool is measured in dozens (DOZ). This unit signifies that the trade of these products is often done in multiples of twelve.
There are also several special tariff preference programs associated with HS Code 65059030. These programs provide certain countries with preferential treatment or exemptions from duties. The following countries enjoy duty-free treatment: Australia (AU), Bahrain (BH), Canada (CA) under NAFTA (North American Free Trade Agreement), Chile (CL), Israel (IL), Jordan (JO), Mexico (MX) under NAFTA, Oman (OM), Panama (P), Peru (PE), and Singapore (SG).
In addition to the duty-free treatment, Morocco (MA) is subject to a tariff rate of 12.3?/kg plus 3.7% under the special rate program. This program offers a reduced duty rate compared to the standard bound/MFN duty rate.
When importing hats and headgear of wool under HS Code 65059030, it is important to consider the specific requirements and regulations of the exporting country. Different states within the United States may have varying regulations on the importation of these products. Similarly, the exporting country may have its own set of regulations and restrictions that need to be complied with.
Overall, HS Code 65059030 plays a crucial role in facilitating the international trade of hats and headgear made from wool. It provides a standardized classification for these products, ensuring consistency and transparency in trade transactions. The special tariff preference programs further incentivize trade by offering duty-free treatment or reduced duty rates to eligible countries.
Whether you're a business involved in the import/export of hats and headgear or simply a consumer looking to purchase these products from overseas, understanding the HS code and its implications can help navigate the complexities of international trade.