Ferrochromium is a type of alloy that contains chromium and iron. It is commonly used in the production of stainless steel and other corrosion-resistant materials. The HS code 72024100 specifically refers to ferrochromium containing more than 4% carbon by weight. In this article, we will explore the details of this HS code, its tariff rates, quantity unit, special tariff preference programs, and the US states involved in importing and exporting this product.
The product described under HS code 72024100 is ferrochromium that contains more than 4% carbon by weight. This alloy is used in various industrial applications, especially in the production of stainless steel. The carbon content in ferrochromium enhances its strength and corrosion resistance, making it a crucial component in the manufacturing of high-quality steel products.
The bound or most-favored-nation (MFN) duty rate for HS code 72024100 is 1.9%. This means that every time a country lowers a trade barrier or opens up a market, it has to apply the same duty rate for the same goods or services from all its trading partners. The 1.9% duty rate is applicable to imports of ferrochromium containing more than 4% carbon into various countries.
The quantity unit for HS code 72024100 is kilograms (KG). This means that the weight of the imported or exported ferrochromium is measured in kilograms. The quantity unit is essential for determining the amount of product being traded and calculating the customs duties or taxes based on the weight.
There are several special tariff preference programs applicable to imports of ferrochromium containing more than 4% carbon under HS code 72024100. These programs offer preferential treatment or duty-free access to certain countries. The following programs apply to this HS code:
These special tariff preference programs aim to promote trade and economic cooperation between countries by reducing or eliminating customs duties for certain products. Importers and exporters should familiarize themselves with these programs to take advantage of the preferential treatment they offer.
According to available data, the following US states are involved in importing ferrochromium containing more than 4% carbon under HS code 72024100:
These states are active participants in the importation of this specific type of ferrochromium. The import activities in these states indicate the demand for this product and its importance in various industries within the United States.
While the data provided does not specify the exporting US states for HS code 72024100, it is essential to acknowledge that various states within the US engage in the exportation of ferrochromium containing more than 4% carbon. These states play a crucial role in supplying this product to international markets and contributing to the country's overall export trade.
HS code 72024100 refers to ferrochromium containing more than 4% carbon by weight. This alloy is widely used in the production of stainless steel and other corrosion-resistant materials. Importers and exporters should be aware of the bound duty rate, quantity unit, special tariff preference programs, and the US states involved in importing and exporting this product. Understanding these details is crucial for conducting international trade effectively and efficiently.