HS Code 72029980: Ferroalloys nesoi

Ferroalloys nesoi, classified under HS Code 72029980, are a type of alloy containing iron and one or more other elements. These alloys are widely used in various industries, including steel production, automotive manufacturing, and construction.

When importing or exporting goods classified under HS Code 72029980, it is essential to understand the specific regulations and duties associated with this product. In this article, we will explore the details of HS Code 72029980, including its product description, duty rates, quantity units, and special tariff preference programs.

Product Description

The HS Code 72029980 refers to ferroalloys nesoi, which stands for "not elsewhere specified or included." It includes alloys that contain iron, along with other elements like manganese, chromium, silicon, and others. These alloys are used in various industrial applications to enhance the properties of the base metal, such as increasing strength, hardness, or corrosion resistance.

Duty Rates

The bound or most-favored-nation (MFN) duty rate for HS Code 72029980 is 5%. This means that when a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This consistent duty rate ensures fair competition and equal treatment for all parties involved.

Quantity Unit

The quantity unit for HS Code 72029980 is kilograms (KG). This unit of measurement is commonly used to quantify the weight of ferroalloys during import or export transactions. It allows for accurate calculations and documentation of the quantity of goods being traded.

Special Tariff Preference Programs

Several special tariff preference programs apply to imports classified under HS Code 72029980:

Free: Imports from least-developed beneficiary developing countries eligible for GSP (Generalized System of Preferences) under that subheading receive duty-free treatment. This program promotes economic growth in these countries by providing them with preferential trade benefits.
Australia Special Rate: Australia offers a special rate for imports of ferroalloys nesoi.
Bahrain Special Rate: Bahrain provides a special rate for imports of ferroalloys nesoi.
NAFTA for Canada: Under the North American Free Trade Agreement (NAFTA), imports of ferroalloys nesoi from Canada receive duty-free treatment.
Chile Special Rate: Chile offers a special rate for imports of ferroalloys nesoi.
Africa Growth and Opportunity Act (AGOA): Imports from eligible countries under AGOA receive duty-free treatment. AGOA aims to promote economic development in sub-Saharan African countries.
Caribbean Basin Initiative (CBI): Imports from eligible CBI countries receive duty-free treatment. This program supports economic development in Caribbean countries.
Israel Special Rate: Israel provides a special rate for imports of ferroalloys nesoi.
Andean Trade Preference Act (ATPA): Imports from eligible ATPA countries receive duty-free treatment. This program promotes trade and economic cooperation with Andean countries.
Jordan Special Rate: Jordan offers a special rate for imports of ferroalloys nesoi.
NAFTA for Mexico: Under NAFTA, imports of ferroalloys nesoi from Mexico receive duty-free treatment.
Oman Special Rate: Oman provides a special rate for imports of ferroalloys nesoi.
Dominican Republic-Central American Special Rate (DR-CAFTA): Imports from eligible DR-CAFTA countries receive duty-free treatment. This program facilitates trade and economic integration in the region.
Peru Special Rate: Peru offers a special rate for imports of ferroalloys nesoi.
Singapore Special Rate: Singapore provides a special rate for imports of ferroalloys nesoi.
Morocco Special Rate: Morocco offers a special rate of 2.2% for imports of ferroalloys nesoi.

Importing US States

Based on the available data, the following US states are involved in the import of HS Code 72029980:

Rhode Island
Nevada
Illinois
Mississippi
Ohio
Louisiana
West Virginia
Delaware
Alabama
Maryland

Exporting US States

According to the available data, Nevada is the only US state involved in the export of HS Code 72029980. This indicates that Nevada has a significant presence in the production and export of ferroalloys nesoi.

HS Code 72029980 represents ferroalloys nesoi, which are essential materials used in various industries. Understanding the product description, duty rates, quantity units, and special tariff preference programs associated with this HS Code is crucial for importers, exporters, and businesses involved in the trade of ferroalloys nesoi.