HS Code 97040000 refers to postage or revenue stamps, stamp-postmarks, first-day covers, postal stationery, and similar items. These can be used or unused, but they should not fall under heading 4907. This HS code is used to classify and regulate the import and export of such items.
When it comes to the bound or most-favored-nation (MFN) duty rate, this HS code is free of duty. This means that there are no duties or taxes imposed on these items when they are imported or exported. The idea behind this is that when a country lowers a trade barrier or opens up its market, it must do so for all its trading partners equally, ensuring fair and equal treatment.
There is no specific quantity unit collected for this HS code. The "no units collected (X)" indicates that there is no specific quantity measurement or collection associated with these items. Instead, they are classified and regulated based on their nature and purpose.
For certain countries, there are special tariff preference programs in place for HS Code 97040000. These programs allow for preferential treatment or exemptions from duties for the import or export of these items. The countries that offer these special rates include Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Morocco, Mexico (under NAFTA), Oman, the Dominican Republic-Central America (under DR-CAFTA), Peru, and Singapore.
In the United States, the importing states for this HS code are the District of Columbia and New York. This means that these states are the primary destinations for the importation of postage or revenue stamps, stamp-postmarks, first-day covers, postal stationery, and similar items falling under HS Code 97040000. They have established infrastructure and processes to handle the importation of these items.
On the other hand, the exporting states for this HS code in the United States are New York, the District of Columbia, and Wyoming. These states are the main sources of these items for exportation, indicating that they have the necessary production capabilities or access to these items for international trade.
HS Code 97040000 is used to classify and regulate the import and export of postage or revenue stamps, stamp-postmarks, first-day covers, postal stationery, and similar items. It is free from duties and has special tariff preference programs in place for certain countries. The District of Columbia and New York are important importers, while New York, the District of Columbia, and Wyoming are significant exporters of these items.