When it comes to international trade, the Harmonized System (HS) Code plays a crucial role in identifying and classifying goods. HS Code 68129110 specifically refers to footwear made of asbestos, excluding crocidolite. In this article, we will delve into the details of this HS code, including its description, duty rates, quantity unit, and special tariff preference programs.
HS Code 68129110 covers footwear manufactured using asbestos materials, with the exception of crocidolite. Asbestos is a naturally occurring mineral known for its heat resistance and durability. However, due to its hazardous nature, crocidolite asbestos is excluded from this HS code.
Currently, the bound or most-favored-nation (MFN) duty rate for footwear of asbestos, other than crocidolite, is 8.3%. This rate applies to all countries involved in international trade, ensuring fair treatment and equal trade opportunities.
It is important to note that whenever a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This principle of non-discrimination promotes fair competition and prevents unfair advantages.
The quantity unit for HS Code 68129110 is kilograms (KG). This unit of measurement allows for standardized tracking and documentation of the imported or exported footwear. It ensures accurate record-keeping and facilitates efficient trade transactions.
Several special tariff preference programs exist for footwear of asbestos, other than crocidolite, under HS Code 68129110. These programs offer specific benefits such as duty-free treatment to eligible countries. Some of the notable programs include:
These special tariff preference programs aim to promote economic growth, foster trade relationships, and provide incentives for countries to engage in international commerce.
HS Code 68129110 applies to both importing and exporting activities involving the United States. Importing states refer to the states within the US that receive and consume the footwear of asbestos, while exporting states are responsible for shipping these goods to international markets.
It is important for both importing and exporting states to adhere to the regulations and requirements associated with HS Code 68129110. This ensures compliance with international trade standards and promotes the safety and well-being of individuals involved in the trade process.
HS Code 68129110 encompasses footwear made of asbestos, excluding crocidolite. This code plays a vital role in facilitating international trade by providing a standardized classification system for these goods. Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS code is crucial for businesses and individuals engaged in the import and export of asbestos footwear.