The HS Code 72029920 refers to the product description "Calcium silicon ferroalloys." This code is used to classify and identify this specific type of product in international trade. In this article, we will explore the details of HS Code 72029920 and its relevance in global trade.
When it comes to international trade, duty rates play a significant role in determining the cost of importing or exporting goods. The bound/MFN (Most Favored Nation) duty rate for HS Code 72029920 is 5%. The bound duty rate indicates the maximum rate that a country can impose on imports of a particular product. The MFN principle ensures that a country applies the same duty rate to all its trading partners.
The quantity unit for HS Code 72029920 is kilograms (KG). This unit of measurement is used to determine the weight or quantity of the product being traded. It helps in accurate record-keeping and facilitates international trade transactions.
Additionally, there are special tariff preference programs associated with HS Code 72029920. These programs offer preferential treatment in terms of duty rates for certain countries. The countries eligible for duty-free treatment under this HS code include Australia, Bahrain, Canada, Chile, Dominican Republic, Israel, Jordan, Mexico, Oman, Peru, Singapore, and several others. These programs aim to promote trade and economic cooperation between the participating countries.
Importing of goods under HS Code 72029920 is reported from various US states. The data shows that Rhode Island, Nevada, Illinois, Mississippi, Ohio, Louisiana, West Virginia, Delaware, Alabama, and Maryland are among the states importing calcium silicon ferroalloys.
On the other hand, exporting of goods under HS Code 72029920 is primarily reported from Nevada. This indicates that Nevada is a significant exporter of calcium silicon ferroalloys to other countries.
Calcium silicon ferroalloys, classified under HS Code 72029920, are widely used in various industries. These alloys are known for their ability to deoxidize and desulfurize steel, improve its mechanical properties, and enhance its resistance to corrosion. They are commonly used in the production of steel and other ferrous alloys.
HS Code 72029920 represents calcium silicon ferroalloys in international trade. The code helps in classifying and identifying this specific product, determining duty rates, and facilitating trade between countries. The special tariff preference programs associated with this code provide certain countries with duty-free or preferential treatment. The importing and exporting data indicate the significant presence of calcium silicon ferroalloys in the trade activities of various US states.