The HS Code 95059060 represents a category of products that includes festive, carnival, or other entertainment articles not elsewhere specified, as well as the parts and accessories associated with these articles. These items are commonly used for various celebrations, events, and entertainment purposes.
When it comes to international trade, the HS code plays a crucial role in identifying the specific category of goods being imported or exported. It helps customs authorities and trade professionals classify products, determine the applicable duties and taxes, and track international trade statistics.
Under the MFN (Most Favored Nation) principle, countries are required to provide the same treatment to all their trading partners. 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. In the case of HS Code 95059060, the bound/MFN duty rate is set to be free, meaning that no additional duties or taxes are imposed on the import or export of these goods.
The quantity unit for HS Code 95059060 is "no units collected (X)." This indicates that the goods in this category are not measured or reported in specific units but are instead considered as a collective group or bulk.
There are also special tariff preference programs in place for HS Code 95059060. These programs provide certain countries with preferential treatment, such as duty-free or reduced duty rates, for the import or export of goods. The countries eligible for these special rates under HS Code 95059060 include:
These special rates aim to promote trade and economic development between the countries involved, making it more cost-effective and beneficial for businesses to engage in international trade of festive, carnival, or other entertainment articles covered by HS Code 95059060.
Importing and exporting of products under HS Code 95059060 can occur between various US states and exporting countries. The specific states involved in importing and exporting activities may vary depending on the business transactions and trade relationships established between the parties.
HS Code 95059060 encompasses festive, carnival, or other entertainment articles not elsewhere specified, along with their associated parts and accessories. It plays a crucial role in international trade by facilitating the classification, taxation, and tracking of these goods. Additionally, special tariff preference programs provide certain countries with preferential treatment for the import or export of these goods, promoting trade and economic development. Understanding the HS code and its implications is essential for businesses and individuals involved in the import and export of products covered by HS Code 95059060.