The HS Code 96071100 refers to slide fasteners that are fitted with chain scoops made of base metal. This code is used to classify and identify this specific type of product for international trade purposes. Understanding the HS code system is essential for importers, exporters, and customs officials as it helps facilitate smooth trade transactions and ensures accurate tariff determination.
The product description clearly states that the slide fasteners being referred to in this HS code are specifically fitted with chain scoops made of base metal. This information is crucial as it helps differentiate this particular type of slide fastener from others that may have different characteristics or materials.
When it comes to the import or export of goods, it is important to understand the duty rates associated with the HS code. In the case of HS code 96071100, the bound or MFN (Most Favored Nation) duty rate is set at 10%. This means 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. The 10% duty rate will be applied to the value of the slide fasteners with chain scoops of base metal during customs clearance.
The quantity unit for this HS code is "number" (NO), which indicates that the product is measured and traded based on the number of slide fasteners. This is a standard unit used in international trade to ensure consistent measurement and valuation of goods.
There are also special tariff preference programs associated with HS code 96071100. These programs provide certain countries with preferential treatment in terms of duty rates. The following countries enjoy duty-free treatment for this product: Australia (A), Austria (AU), Belgium (B), Bahrain (BH), Canada (CA), Chile (CL), EU member states (E), Israel (IL), Japan (J), Jordan (JO), Morocco (MA), Mexico (MX), Oman (OM), Peru (P), and the Philippines (PE).
In addition to the duty-free treatment provided by the Generalized System of Preferences (GSP), there are other special rate programs for specific countries. For instance, the Automotive Products Trade Act (APTA) grants duty-free treatment for Australia, while the Caribbean Basin Initiative (CBI) provides duty-free treatment for Israel. The Andean Trade Preference Act (ATPA) offers preferential rates for Jordan, and the Dominican Republic-Central American Free Trade Agreement (DR-CAFTA) grants special rates for the Dominican Republic and Central American countries.
It is also worth noting that Singapore has a special rate of 1.2% for this HS code. This means that imports of slide fasteners with chain scoops of base metal into Singapore will be subject to a lower duty rate compared to other countries.
When it comes to the importing and exporting of goods under this HS code, it is essential to consider the specific regulations and requirements of the importing and exporting US states. Different states may have additional regulations or restrictions that need to be taken into account during the customs clearance process.
In summary, HS code 96071100 refers to slide fasteners that are fitted with chain scoops made of base metal. This code helps classify and identify the product for international trade purposes. Understanding the duty rates, quantity unit, and special tariff preference programs associated with this HS code is crucial for importers, exporters, and customs officials. It ensures accurate tariff determination and facilitates smooth trade transactions.