The HS Code 74031200 refers to the product description of refined copper wire bars. This code is used to classify and identify this specific type of copper product for international trade purposes. Understanding the details and implications of this HS code is important for importers, exporters, and other stakeholders involved in the copper industry.
The bound or Most Favored Nation (MFN) duty rate for HS Code 74031200 is 1%. 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. This duty rate applies to the import or export of refined copper wire bars. Importers and exporters need to take this duty rate into account when calculating the cost of their transactions.
The quantity unit for HS Code 74031200 is kilograms (KG). This unit of measurement is used to measure the weight of the imported or exported refined copper wire bars. It is important to accurately determine the weight of the copper bars to ensure compliance with customs regulations and to calculate shipping and handling costs.
There are several special tariff preference programs associated with HS Code 74031200. These programs provide certain countries with preferential treatment or exemptions from import duties. The countries eligible for these programs include:
These tariff preference programs allow importers and exporters from eligible countries to benefit from reduced or eliminated import duties on refined copper wire bars. It is important to check the specific requirements and conditions of each program to ensure eligibility and compliance.
When importing HS Code 74031200 to the United States, the following states are listed as importing states:
These states have a demand for refined copper wire bars and serve as potential markets for exporters. Importers can target these states for their distribution and sales strategies.
On the other hand, when exporting refined copper wire bars from the United States, the state of Utah is listed as an exporting state. This means that Utah has a significant production capacity or acts as a hub for the export of refined copper wire bars. Exporters can take advantage of Utah's infrastructure and resources to facilitate their export operations.
Overall, understanding HS Code 74031200 and its associated details is crucial for anyone involved in the import, export, or trade of refined copper wire bars. Proper classification, knowledge of duty rates, eligibility for tariff preference programs, and identification of potential markets are key factors in conducting successful international trade in the copper industry.