The HS Code 27101910 refers to distillate and residual fuel oil derived from petroleum oils or oil of bituminous minerals, with a testing gravity of 25 degrees A.P.I. or higher. This article will provide an extensive overview of the product description and its classification, as well as information on duty rates, quantity units, and special tariff preference programs.
Distillate and residual fuel oil, classified under HS Code 27101910, are petroleum-based fuels used primarily for heating or generating energy. Distillate fuel oil is obtained from the distillation of crude oil, while residual fuel oil is derived from the residual components left after the distillation process. These fuels are commonly used in various industries, including power generation, marine transportation, and heating applications.
The bound / MFN (Most Favored Nation) duty rate for HS Code 27101910 is 10.5 cents per barrel (bbl). This rate applies to all countries and remains the same unless a country lowers a trade barrier or opens up a market. The principle of MFN states that any trade barrier reduction or market opening must apply to the same goods or services from all trading partners.
The quantity unit for HS Code 27101910 is barrels (bbl). Barrels are a common unit of measurement for petroleum and petroleum products, including fuel oils. The use of barrels helps standardize the measurement and facilitate international trade.
HS Code 27101910 is eligible for various special tariff preference programs. These programs offer preferential treatment in terms of reduced or duty-free tariffs. Here is a list of some of the programs applicable to this HS Code:
HS Code 27101910 is imported into various states across the United States. Some of the states importing this product include:
HS Code 27101910 is exported from several states in the United States. Some of the exporting states include:
The HS Code 27101910 plays a crucial role in facilitating international trade of distillate and residual fuel oil. Understanding the product description, duty rates, quantity units, and special tariff preference programs associated with this HS Code is essential for importers, exporters, and policymakers involved in the petroleum industry.