Umbrellas are a common item that we use to protect ourselves from rain and sunlight. They come in various designs and sizes, serving both functional and aesthetic purposes. However, not all umbrellas are created equal. The HS code 66019900 specifically refers to a particular type of umbrella - those that are not garden or similar umbrellas and do not have a telescopic shaft.
Let's delve deeper into the details of this HS code and explore why it is important in international trade.
The product description of HS code 66019900 is "Umbrellas, other than garden or similar umbrellas, not having a telescopic shaft." This means that the code applies to umbrellas that are not specifically designed for garden use and do not have a collapsible or extendable shaft. These umbrellas are typically used for general purposes and may vary in size, material, and design.
The bound / MFN (Most Favored Nation) duty rate for HS code 66019900 is 8.2%. This duty rate is applicable every time a country lowers a trade barrier or opens up a market. It ensures that any changes in trade regulations affect all trading partners equally, ensuring fair trade practices.
The quantity unit for HS code 66019900 is dozens (DOZ). This means that the measurement and trade of umbrellas under this code are typically done in multiples of 12. It provides a standardized unit for easy calculation and tracking of trade volumes.
HS code 66019900 is eligible for various special tariff preference programs, providing certain countries with preferential treatment in terms of duty rates. The following countries enjoy free trade under this code:
These special tariff preference programs aim to promote economic cooperation and foster trade relationships between countries. By providing duty-free treatment or special rates, these programs incentivize trade and facilitate easier market access for specific goods.
While HS code 66019900 does not explicitly mention importing or exporting US states, it is important to note that the code's applicability extends to all countries participating in international trade. Therefore, any US state can import or export umbrellas falling under this HS code.
However, for the sake of example, let's consider Vermont as both an importing and exporting US state for umbrellas under HS code 66019900. Vermont, known for its diverse climate and beautiful landscapes, experiences varying weather conditions throughout the year. As such, it is likely to have a demand for umbrellas, both for personal use and as a potential export item to other states or countries.
HS code 66019900 encompasses a specific category of umbrellas that are not garden or similar umbrellas and lack a telescopic shaft. The code plays a vital role in international trade by providing a standardized classification and facilitating fair trade practices. Understanding this code is crucial for importers, exporters, and traders involved in the umbrella industry, ensuring smooth transactions and compliance with trade regulations.