Ferrochromium is an alloy used in various industries, including steel production. The HS Code 72024910 specifically refers to ferrochromium containing by weight more than 3 percent but not more than 4 percent of carbon. This article will provide a detailed overview of this product, including its description, tariff rates, special tariff preference programs, and information about importing and exporting states in the United States.
The product described by HS Code 72024910 is ferrochromium with a carbon content ranging from more than 3 percent to not more than 4 percent. Ferrochromium is an alloy composed of iron and chromium, with carbon added to enhance its properties. It is commonly used in the production of stainless steel and other corrosion-resistant alloys.
The bound / MFN (Most Favored Nation) duty rate for HS Code 72024910 is 1.9%. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. The duty rate of 1.9% applies to the value of the imported ferrochromium with the specified carbon content.
The quantity unit for HS Code 72024910 is kilograms (KG). This means that the weight of the imported or exported ferrochromium should be measured in kilograms.
There are several special tariff preference programs applicable to imports of ferrochromium with the specified carbon content under HS Code 72024910. These programs provide preferential treatment in terms of duty rates. Below is a list of the programs and the respective countries eligible for each:
These special tariff preference programs aim to promote trade and economic development for the eligible countries by reducing or eliminating import duties on ferrochromium.
Based on available data, the following US states have been identified as the major importers of ferrochromium with the specified carbon content under HS Code 72024910:
These states play a significant role in the importation of this product, indicating its importance in their respective industries.
Based on available data, Nevada is the major exporter of ferrochromium with the specified carbon content under HS Code 72024910.
HS Code 72024910 represents ferrochromium containing by weight more than 3 percent but not more than 4 percent of carbon. This alloy is widely used in the production of stainless steel and other corrosion-resistant alloys. Importers and exporters need to be aware of the bound / MFN duty rate, special tariff preference programs, and the major states involved in the trade of this product. By understanding these details, businesses can navigate the import and export processes more effectively.