Ferroniobium, nesoi, falls under the HS Code 72029380. This code is used to classify and identify specific goods in international trade. Understanding the HS Code is essential for importers, exporters, and customs authorities to accurately identify and categorize products for trade purposes.
The product description for HS Code 72029380 is "Ferroniobium, nesoi." Ferroniobium is an alloy that contains iron and niobium. It is primarily used in the production of high-strength low-alloy (HSLA) steels, which are widely used in various industries such as automotive, construction, and infrastructure.
When importing or exporting Ferroniobium, nesoi, it is important to be aware of the duty rates associated with the HS Code. The bound or Most Favored Nation (MFN) duty rate for HS Code 72029380 is 5%. 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 quantity unit for Ferroniobium, nesoi, is kilograms (KG). This unit is used to measure the weight or quantity of the product being traded.
In terms of special tariff preference programs, several countries offer specific rates or exemptions for Ferroniobium, nesoi. These programs allow for preferential treatment in terms of duty rates. Some of the programs and rates associated with HS Code 72029380 include:
When it comes to importing Ferroniobium, nesoi into the United States, the following states have been recorded as importers:
On the other hand, the recorded states for exporting Ferroniobium, nesoi from the United States are:
Understanding the HS Code and the associated information is crucial for international trade. It helps in proper product classification, determining duty rates, and availing special tariff preference programs. Importers, exporters, and customs authorities should be well-informed about the HS Code 72029380 when dealing with Ferroniobium, nesoi.