When it comes to the world of international trade, various codes and classifications are used to categorize goods and ensure smooth transactions. One such code is HS Code 71162035, which refers to semiprecious stone figurines, excluding rock crystal. In this article, we will explore the product description, duty rates, special tariff preference programs, and the importing and exporting states related to this HS code.
HS Code 71162035 covers figurines made of semiprecious stones, excluding rock crystal. These figurines are crafted from various semiprecious stones, such as amethyst, jade, agate, and many others. They are intricately designed and can be used for decorative purposes or as collectibles. The code specifically excludes figurines made from rock crystal, which falls under a different category.
When importing goods under HS Code 71162035, a 4.5% duty rate is applicable. This means that a certain percentage of the total value of the imported figurines will be imposed as a duty. It's important to note that duty rates can vary depending on the country and trade agreements in place.
In the context of trade barriers and market access, the MFN (Most Favored Nation) principle applies. This principle states that when a country lowers a trade barrier or opens up a market for certain goods or services, it must do so for all its trading partners. Therefore, any reductions or openings in trade barriers related to HS Code 71162035 must apply universally.
HS Code 71162035 is eligible for various special tariff preference programs, which provide certain countries with preferential treatment or duty-free access. Here are some notable programs applicable to this HS code:
HS Code 71162035 is imported into various states in the United States. The following states have recorded imports of semiprecious stone figurines:
On the other hand, the following states are known for exporting semiprecious stone figurines:
It's interesting to note that New York, Rhode Island, Florida, and Hawaii appear as both importing and exporting states for HS Code 71162035. This indicates a significant level of trade activity in these regions related to semiprecious stone figurines.
HS Code 71162035 encompasses semiprecious stone figurines, excluding rock crystal. Importers and exporters of these figurines should be aware of the duty rates, special tariff preference programs, and the states involved in the trade. Understanding these details is crucial for businesses operating in the international trade of semiprecious stone figurines.