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.QUESTION
Importing a Product into U.S. \
Your next step in this assignment is to see which country you would like to source your product from and if there are any tariffs or trade agreements between the country you are sourcing your product from. To do this, you can do a general google search. A popular tool used by freight forwarders to assess customs taxes on their clients' shipments is the Harmonized Tariff Schedule or HTS book. A link is provided for it below. The way to use this book is to look up the item which you would like to import into the U.S. and see what percent tax you would be charged on it when you bring it in under the column "General". For some items, you might have to look up the item by items material such as "plastics" if you do not find it specifically. I know the book looks confusing, but try your best. This is a learning experience. Please answer the questions below when you are done.
hts book: https://hts.usitc.gov/?query=3923
ANSWER THE QUESTIONS ONE BY ONE. NOT IN ESSAY FORMAT.
1. What product have you chosen to import into the U.S.?
2. Which country are you sourcing your product from?
3. Are there any tariffs or general trade agreements that might affect you while you are importing your good into the U.S.?
4. According to the HTS book, will you be responsible for any customs charges on your product?
Your next step in this assignment is to see which country you would like to source your product from and if there are any tariffs or trade agreements between the country you are sourcing your product from. To do this, you can do a general google search. A popular tool used by freight forwarders to assess customs taxes on their clients' shipments is the Harmonized Tariff Schedule or HTS book. A link is provided for it below. The way to use this book is to look up the item which you would like to import into the U.S. and see what percent tax you would be charged on it when you bring it in under the column "General". For some items, you might have to look up the item by items material such as "plastics" if you do not find it specifically. I know the book looks confusing, but try your best. This is a learning experience. Please answer the questions below when you are done.
hts book: https://hts.usitc.gov/?query=3923
ANSWER THE QUESTIONS ONE BY ONE. NOT IN ESSAY FORMAT.
- What product have you chosen to import into the U.S.?
- Which country are you sourcing your product from?
- Are there any tariffs or general trade agreements that might affect you while you are importing your good into the U.S.?
- According to the HTS book, will you be responsible for any customs charges on your product?
| Subject | Business | Pages | 5 | Style | APA |
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Answer
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Product Importation in USA
- What product have you chosen to import into the U.S.?
Investments require a gap in society. The Covid-19 situation in the world today has shown a clear gap following the change in livelihood of people not only in the United State of America, but also in the entire world. It has come along with health issues as people cannot freely attend fitness centers such as the gyms, living them with no option but to keep fit from home. This makes Yoga and Pilates mats a real opportunity for investors in the United States to invest. The pandemic situation has seen a rise in demand for home fitness tools such as Yoga and Pilates mats to help keep people fit, active, and safe from lifestyle diseases and the risk of contracting Covid-19 (Brian 1612).
The United States has witnessed a rise in demand for Yoga and Pilates mats by her citizens due to the rising awareness of its health benefits that are in line with covid-19 regulations for the general population. The increased demand in the Yoga mats creates an investment venture in the world today. Research shows that there are around 191,000 monthly online searches for Yoga mats since the pandemic situation, thus popularizing the industry in the United States (Brian 1612). A large population is interested in eco-friendly as well as non-toxic Yoga mats rather than the polyvinyl chloride mats that are considered harmful to our Mother Nature since they are non-biodegradable (Brian 1612). Remarkably, it would be prudent to invest in Yoga mats within United States since we are approaching November and December that are the general gifting seasons. People would love to gift their loved ones the trending gifting items and yoga mats being one of them, it presents a high investment opportunity to the new investors in States.
- Which country are you sourcing your product from?
China today emerges as the world-leading producer of the Yoga mats together with countries like India, South Korea, and Australia. Investors in the United State would preferably import Yoga mats largely from the republic of China following the large scale production experience in that country (Miah 210). The republic of China Yoga mats are of great quality and satisfied by the Harmonized Tariff Schedule codes for the world use. They are environmentally friendly and reusable hence putting into consideration the future of the world.
- Are there any tariffs or general trade agreements that might affect you while you are importing your good into the U.S.?
Like any other import into the United States, Yoga and Pilates mats must also adhere to the set rules and regulations for the tariffs and other relevant taxes. Several general trade agreements affect the importation of Yoga mats into the state. A sample yoga mat must be made of cork in the top part, and should contain the Gurus logo as well as a slogan for identification. It must be constructed of natural rubber that is recycled at the bottom of the mat to help prevent slippage situations that may in one way or another injure the user. In addition, the yoga mat should measure approximately 24” to 26" by 68” to 85” in length to fit the users appropriately. The materials should be of safe non-toxic materials that are free from bisphenol, lead, phthalates, dioxin, and biological toxic chemical materials should not be used in making Yoga mats imported into the United State (Miah 217).
- According to the HTS book, will you be responsible for any customs charges on your product?
Harmonized Tariff Schedule codes are majorly used to help classify and define the internationally traded goods. Yoga mats being one of the products are subject to these regulations and customers would be held responsible for any customs charges on the product according to the HTS book.
References
Briens, Lauren, and Megan Bojarra. "(TXA38S-80B2H) AC Axial Exhaust Fan Ventilation Fan Cooling Fan." AAPS PharmSciTech 11.4 (2010): 1612.
Miah, M. R., Ijomone, O. M., Okoh, C. O., Ijomone, O. K., Akingbade, G. T., Ke, T., ... & Soares, F. A. A. (2020). The effects of manganese overexposure on brain health. Neurochemistry international, 135 (2020): 104688