Badminton is a popular sport played by millions of people around the world. To enjoy this game to the fullest, players require high-quality badminton rackets and their corresponding parts and accessories. The Harmonized System (HS) Code 95065940 specifically categorizes and identifies these products for international trade and customs purposes.
The HS Code 95065940 encompasses badminton rackets, as well as their parts and accessories. This includes but is not limited to strings, grips, shuttlecocks, and carrying cases. These components are essential for players to enhance their performance and protect their equipment during transportation.
When it comes to international trade, countries often impose trade barriers such as tariffs and quotas. However, the MFN (Most Favored Nation) principle ensures that every time 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.
In the case of HS Code 95065940, the bound or MFN duty rate stands at 5.6%. This duty rate applies universally, ensuring fair and equal treatment for all countries participating in trade involving badminton rackets and their parts and accessories.
Several special tariff preference programs exist for the import and export of products falling under HS Code 95065940. These programs provide various benefits, including duty-free treatment, to specific countries. The following countries and programs are associated with this HS Code:
These special tariff preference programs aim to promote trade relations, encourage economic growth, and foster cooperation between the participating countries.
When it comes to trade in badminton rackets and their parts and accessories under HS Code 95065940, different states within the United States may have varying levels of importing and exporting activities. The specific states involved in the import and export of these products may vary over time, depending on market demand and other factors.
It is essential for businesses and individuals involved in the import-export trade of badminton rackets and their components to stay informed about the regulations and requirements of the states they are operating in. Compliance with customs procedures and documentation is crucial for smooth and lawful trade operations.
HS Code 95065940 plays a significant role in categorizing and facilitating international trade of badminton rackets and their parts and accessories. This code ensures fair treatment, reduces trade barriers, and provides special tariff preferences for specific countries. Importers, exporters, and players alike can benefit from the standardized identification and regulations associated with this HS Code.