HS Code 71102900: Palladium, in semimanufactured forms
Palladium is a precious metal that is widely used in various industries due to its unique properties. It is classified under HS Code 71102900, which specifically refers to palladium in semimanufactured forms. In this article, we will explore the details of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs. We will also discuss the importing and exporting trends of this product in the United States.
Product Description: Palladium, in semimanufactured forms, falls under HS Code 71102900. This code is used to categorize palladium that has been partially processed or manufactured into specific forms for further use in various industries. It includes items such as palladium sheets, plates, and rods that are not yet in their final finished state.
Bound / MFN Duty Rate: The bound or most-favored-nation (MFN) duty rate for HS Code 71102900 is free. This means that countries are not required to pay any import duties or taxes when importing palladium in semimanufactured forms. It is important to note that this duty rate applies every time a country lowers a trade barrier or opens up a market. Therefore, if a country provides duty-free treatment for this HS code, it must do so for all its trading partners.
Quantity Unit: The quantity unit component for HS Code 71102900 is grams (CGM). This unit is used to measure the weight or mass of palladium in semimanufactured forms. It is crucial for accurate trade transactions and determining the value of the imported or exported palladium.
Special Tariff Preference Programs: Several special tariff preference programs offer duty-free treatment for palladium in semimanufactured forms under HS Code 71102900. These programs include:
- A*: Certain countries excluded from GSP eligibility for that HTS subheading (duty-free treatment)
- AU: Australia Special Rate
- BH: Bahrain Special Rate
- CA: NAFTA for Canada (duty-free treatment)
- CL: Chile Special Rate
- E: Caribbean Basin Initiative (CBI)
- IL: Israel Special Rate (duty-free treatment)
- J: Andean Trade Preference Act (ATPA)
- JO: Jordan Special Rate
- MA: Morocco Special Rate
- MX: NAFTA for Mexico
- OM: Oman Special Rate
- P: Dominican Republic-Central American Special Rate (DR-CAFTA)
- PE: Peru Special Rate
- SG: Singapore Special Rate
These programs offer preferential treatment to certain countries or regions, allowing them to import palladium in semimanufactured forms without paying any duties or taxes. This promotes trade and economic cooperation between these countries and the United States.
Importing US States: Based on the available data, the following US states have been importing palladium in semimanufactured forms under HS Code 71102900:
- Nevada
- New York
- Connecticut
- Florida
- Utah
- Delaware
- Massachusetts
- Idaho
- New Jersey
- Pennsylvania
These states play a significant role in the importation of palladium, indicating the demand for this precious metal in various industries and sectors within the United States.
Exporting US States: Conversely, the following US states have been exporting palladium in semimanufactured forms under HS Code 71102900:
- New York
- California
- Nevada
- Virgin Islands
- Rhode Island
- New Mexico
- Florida
- Massachusetts
- Utah
- New Jersey
- Pennsylvania
These states are actively involved in the exportation of palladium, contributing to its global trade and ensuring a steady supply for industries worldwide.
HS Code 71102900 represents palladium in semimanufactured forms. This precious metal is highly sought after in various industries due to its exceptional properties. With duty-free treatment and special tariff preference programs, countries can import and export palladium freely, promoting international trade and economic growth. The importing and exporting trends of palladium in the United States highlight the significant role played by specific states in this trade.
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