Fishing reels are an essential tool for anglers around the world. They provide the necessary mechanism to cast and retrieve fishing lines efficiently. The HS Code 95073020 specifically refers to fishing reels that are valued at not over $2.70 each. This code plays a crucial role in international trade, ensuring accurate classification and identification of goods for customs purposes.
When it comes to trade barriers and market access, countries must adhere to the principles of the Most Favored Nation (MFN) duty rate. This means that when 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. For fishing reels under HS Code 95073020, the bound/MFN duty rate is 9.2%. This rate applies every time a country reduces trade barriers for this product.
The quantity unit for fishing reels under this HS Code is measured in numbers (NO). This unit helps in accurately quantifying the volume of fishing reels being imported or exported.
Special tariff preference programs also play a role in the import and export of fishing reels under HS Code 95073020. Several countries offer preferential treatment to these products, allowing for lower or duty-free rates. The following special tariff preference programs apply to fishing reels:
These special tariff preference programs aim to promote trade and provide incentives for importing and exporting fishing reels under HS Code 95073020. They help lower the cost of these products and facilitate international business relationships.
When it comes to importing fishing reels under HS Code 95073020, various US states play a significant role. These states serve as key destinations for fishing reel imports. Some of the prominent importing US states include:
These states have a strong demand for fishing reels, considering their coastal geography and vibrant fishing industries. Importers often target these states to meet the demand for fishing reels.
On the other hand, there are also exporting US states that contribute to the global fishing reel market. These states are known for their manufacturing capabilities and export fishing reels to various countries worldwide. Some of the notable exporting US states include:
These exporting states play a crucial role in meeting the global demand for fishing reels. They ensure the availability of high-quality products and contribute to the economic growth of the fishing reel industry.
HS Code 95073020 encompasses fishing reels valued not over $2.70 each. This code facilitates international trade by ensuring accurate classification and identification of these products. The bound/MFN duty rate, quantity unit, and special tariff preference programs associated with this HS Code further shape the import and export dynamics of fishing reels. Understanding the significance of HS Code 95073020 is essential for businesses involved in the fishing reel industry and international trade.