HS Code 95062900: Water-skis, Surf Boards, and Other Water Sport Equipment
Water sports have always been a popular recreational activity, attracting enthusiasts from all around the world. Whether it's gliding through the waves on water-skis or riding the surf on a board, water sports provide endless fun and excitement.
HS Code 95062900 encompasses a range of water sport equipment, excluding sailboards, and includes various parts and accessories. In this article, we will explore the details of this HS code and its implications for trade and import-export activities.
The product description of HS Code 95062900 is "Water-skis, surf boards, and other water sport equipment (o/than sailboards) and parts & accessories thereof nesoi." This code covers a wide range of items used in water sports, such as water-skis, surfboards, and other equipment like kneeboards, wakeboards, towable tubes, and more. It also includes parts and accessories necessary for these water sport activities.
When it comes to trade, countries often have trade barriers and tariffs in place to protect their domestic industries. However, under the concept of Most Favored Nation (MFN) status, a country must lower its trade barriers and open up its market for the same goods or services from all its trading partners. For HS Code 95062900, the bound/MFN duty rate is free, meaning there are no additional tariffs imposed on the import of these water sport equipment and accessories.
Additionally, there are special tariff preference programs in place for HS Code 95062900. These programs provide certain countries with preferential treatment or duty-free access to the US market. The countries eligible for these special rates include Australia, Bahrain, Canada (under NAFTA), Chile, European Union (E), Israel, Japan, Jordan, Morocco, Mexico (under NAFTA), Oman, Peru, Singapore, and the countries under the Dominican Republic-Central American Free Trade Agreement (DR-CAFTA).
This means that water sport equipment and accessories falling under HS Code 95062900 can be imported into the United States from these countries without any additional duties or tariffs. These special tariff preference programs aim to promote trade and economic cooperation between the United States and its partner countries.
It is important to note that the quantity unit for HS Code 95062900 is not available (NA). This implies that the quantity of goods imported or exported under this code is not specified or limited by a specific unit of measurement. The absence of a quantity unit allows for flexibility in trade and does not restrict the volume or size of water sport equipment being traded.
Importing and exporting water sport equipment under HS Code 95062900 can benefit businesses and consumers alike. It allows for a diverse range of products to be available in the market, catering to the needs and preferences of water sports enthusiasts. Furthermore, the special tariff preference programs enable countries to engage in mutually beneficial trade relationships, promoting economic growth and international cooperation.
HS Code 95062900 covers water-skis, surf boards, and other water sport equipment, along with their parts and accessories. The bound/MFN duty rate for this HS code is free, ensuring that trade barriers and tariffs do not hinder the import of these goods. Additionally, special tariff preference programs provide certain countries with duty-free access to the US market. This encourages trade and economic cooperation between the United States and its partner countries. So, whether you're a water sports enthusiast or a business involved in the water sports industry, HS Code 95062900 plays a crucial role in facilitating international trade and promoting the growth of this exciting recreational activity.
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