The PhoneFavs bookmark importer has been improved with support for creating tags out of your bookmark file’s folder hierarchy. Now when you import your bookmarks the current folder of the bookmarks will be automatically assigned as a tag for each bookmark.
The PhoneFavs bookmark importer is the easiest way to get your bookmarks online. Once imported your bookmarks are now accessible on any device via PhoneFavs and can easily be mobilized, searched and tag’d. The importer supports all major desktop browsers including Internet Explorer, Safari, Firefox and Netscape. You can even import from del.icio.us as well.
Full instructions can be found here.