HS Code 71011060: Natural Pearls, Not Strung, Mounted or Set
Natural pearls are a fascinating gemstone that have been treasured for centuries for their beauty and rarity. With HS Code 71011060, we delve into the import and export of these exquisite pearls. This article will provide a comprehensive understanding of the product description, duty rates, quantity units, special tariff preference programs, and the importing and exporting US states.
Product Description:
HS Code 71011060 refers to natural pearls that are not strung, mounted, or set. These pearls are in their raw form and have not undergone any additional processing or enhancement. Natural pearls are created by oysters and other mollusks when an irritant, such as a grain of sand, enters their shells. Over time, the mollusk secretes layers of nacre, forming a pearl.
Bound / MFN Duty Rate:
The bound or most-favored-nation (MFN) duty rate for HS Code 71011060 is free. This means that whenever 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. This encourages fair and equal trade practices among nations.
Quantity Unit:
The data shows that no units have been collected for HS Code 71011060. This may indicate that the quantity of natural pearls imported or exported is not measured in traditional units such as kilograms or pieces.
Special Tariff Preference Programs:
HS Code 71011060 is eligible for various special tariff preference programs. These programs provide duty-free treatment or special rates for the import and export of natural pearls. The countries included in these programs are:
- Generalized System of Preferences (GSP) - Duty-free treatment
- Australia - Special Rate
- Bahrain - Special Rate
- Canada (NAFTA) - Duty-free treatment
- Chile - Special Rate
- Caribbean Basin Initiative (CBI)
- Israel - Special Rate (duty-free treatment)
- Andean Trade Preference Act (ATPA)
- Jordan - Special Rate
- Morocco - Special Rate
- Mexico (NAFTA) - Duty-free treatment
- Oman - Special Rate
- Dominican Republic-Central American (DR-CAFTA) - Special Rate
- Peru - Special Rate
- Singapore - Special Rate
These special tariff preference programs aim to promote economic cooperation and trade between the participating countries by reducing or eliminating import duties on natural pearls.
Importing US States:
The importing US states for HS Code 71011060 are not specified in the provided data. However, it is important to note that the United States is one of the largest importers of natural pearls. Major cities such as New York, Los Angeles, and Miami are known for their thriving jewelry markets and serve as key entry points for imported pearls.
Exporting US States:
Similarly, the data does not specify the exporting US states for HS Code 71011060. However, the United States is also a significant exporter of natural pearls. States such as Hawaii, California, and Florida are known for their pearl farming and production, making them potential sources of exports.
HS Code 71011060 pertains to natural pearls that are not strung, mounted, or set. The import and export of these pearls are subject to duty rates, special tariff preference programs, and are carried out by various US states and international trading partners. As a precious gemstone, natural pearls continue to captivate jewelry enthusiasts and collectors around the world.
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