Harmonized System Codes • Schedule B • Harmonized Commodity Description

HS Code 71162050: Precious Stone Articles, NESOI

The HS Code 71162050 refers to precious stone articles not elsewhere specified or included. This code is used to classify and identify specific products for international trade purposes. Understanding the HS code is essential for importers, exporters, and customs officials to ensure accurate documentation, proper duties, and smooth trade transactions.

Precious stone articles encompass a wide range of products, including jewelry, gemstones, and decorative items. These articles are made from various precious stones, such as diamonds, rubies, emeralds, sapphires, and more. The HS code 71162050 specifically applies to precious stone articles that do not have a specific classification under other HS codes.

Bound / MFN Duty Rate

The bound / MFN duty rate for HS Code 71162050 is free. This means that countries must eliminate trade barriers or open up their markets for the same goods or services from all trading partners. By offering duty-free treatment, countries aim to promote fair and equal trade opportunities.

Special Tariff Preference Programs

HS Code 71162050 is eligible for various special tariff preference programs. These programs provide specific countries with preferential trade treatment, often in the form of reduced or zero-duty rates. The following countries and programs apply to HS Code 71162050:

• Generalized System of Preferences (GSP): Provides duty-free treatment for eligible products.
• Australia Special Rate: Offers special tariff rates for trade between Australia and the importing country.
• Bahrain Special Rate: Provides preferential trade treatment for trade between Bahrain and the importing country.
• NAFTA for Canada: Duty-free treatment under the North American Free Trade Agreement for trade between Canada and the importing country.
• Chile Special Rate: Offers preferential trade treatment for trade between Chile and the importing country.
• Caribbean Basin Initiative (CBI): Provides duty-free treatment for eligible products from designated Caribbean countries.
• Israel Special Rate: Offers duty-free treatment for trade between Israel and the importing country.
• Andean Trade Preference Act (ATPA): Provides preferential trade treatment for eligible products from designated Andean countries.
• Jordan Special Rate: Offers special tariff rates for trade between Jordan and the importing country.
• Morocco Special Rate: Provides preferential trade treatment for trade between Morocco and the importing country.
• NAFTA for Mexico: Duty-free treatment under the North American Free Trade Agreement for trade between Mexico and the importing country.
• Oman Special Rate: Offers preferential trade treatment for trade between Oman and the importing country.
• Dominican Republic-Central American Special Rate (DR-CAFTA): Provides preferential trade treatment for eligible products from designated Central American countries and the Dominican Republic.
• Peru Special Rate: Offers special tariff rates for trade between Peru and the importing country.
• Singapore Special Rate: Provides preferential trade treatment for trade between Singapore and the importing country at a duty rate of 1.3%.

Importing US States

The following US states have reported imports under HS Code 71162050:

• Connecticut
• Florida
• Hawaii
• New York
• Rhode Island
• Virgin Islands
• Connecticut
• Florida
• Hawaii
• New York
• Rhode Island
• Virgin Islands
• New York
• New York
• New York
• New York
• Rhode Island
• Rhode Island
• Rhode Island
• Rhode Island
• Rhode Island
• Rhode Island

Exporting US States

HS Code 71162050 has been reported as exported from the following US states:

• California
• Florida
• Hawaii
• Nevada
• New Jersey
• New York
• Rhode Island
• Virgin Islands
• California
• Florida
• Hawaii
• Nevada
• New Jersey
• New York
• Rhode Island
• Virgin Islands
• Idaho
• Idaho
• Idaho
• Idaho
• Virgin Islands
• Virgin Islands
• Virgin Islands
• Virgin Islands
• Virgin Islands
• Virgin Islands

HS Code 71162050 plays a crucial role in international trade, ensuring proper classification, duty rates, and trade preferences for precious stone articles. Importers and exporters must accurately identify and classify their products using the appropriate HS codes to comply with customs regulations and benefit from preferential trade treatment programs.