The HS Code 71161025 refers to cultured pearl articles. This code is used to classify and categorize these specific products for international trade purposes. It is important to understand the HS code system as it enables countries to easily identify and track various goods and products.
Cultured pearl articles encompass a range of products that are made using cultured pearls. Cultured pearls are created through a process where a foreign substance is intentionally inserted into an oyster or mollusk, stimulating the formation of a pearl. These pearls are then used in the creation of various articles such as jewelry, accessories, and decorative items.
When importing or exporting cultured pearl articles, it is crucial to be aware of the applicable duty rates. The bound or MFN (Most Favored Nation) duty rate for HS Code 71161025 is 5.5%. This means that every time 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.
In addition to the duty rate, there are also special tariff preference programs that offer preferential treatment for imports of cultured pearl articles. Some of these programs include the Generalized System of Preferences (GSP), Australia Special Rate, Bahrain Special Rate, NAFTA for Canada, Chile Special Rate, Caribbean Basin Initiative (CBI), Israel Special Rate, Andean Trade Preference Act (ATPA), Jordan Special Rate, Morocco Special Rate, NAFTA for Mexico, Oman Special Rate, Dominican Republic-Central American Special Rate (DR-CAFTA), Peru Special Rate, and Singapore Special Rate.
When it comes to importing cultured pearl articles into the United States, the following states have reported imports: Connecticut, Florida, Hawaii, New York, Rhode Island, and the Virgin Islands. These states have been actively involved in the importation of these products, indicating a demand for cultured pearl articles within their markets.
On the other hand, the following states have reported exports of cultured pearl articles from the United States: California, Florida, Hawaii, Nevada, New Jersey, New York, Rhode Island, Virgin Islands, and Idaho. These states are actively involved in the exportation of these products, showcasing their ability to produce and supply cultured pearl articles to international markets.
HS Code 71161025 represents cultured pearl articles in international trade. This code is essential for proper classification and tracking of these products. Understanding the duty rates and special tariff preference programs associated with this code is crucial for importers and exporters. The data on importing and exporting states provides insights into the demand and supply of cultured pearl articles within the United States.