Aluminum is a versatile metal that is widely used in various industries due to its lightweight, durability, and excellent conductivity. One of the common products made from aluminum is stranded wire, cables, and articles. These products are essential for transmitting electrical power and signals, particularly in the construction, telecommunications, and automotive sectors.
The HS Code 76141050 specifically refers to aluminum stranded wire, cables, and the like with a steel core. These products are not electrically insulated and are usually fitted with fittings or made into articles for specific applications. The code ensures proper classification and regulation of these goods in international trade.
When it comes to importing or exporting aluminum stranded wire, cables, and articles, it is crucial to understand the relevant trade policies and tariff rates. The bound or MFN (Most Favored Nation) duty rate for this HS code is 4.9%. This means that every time 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.
The quantity unit for this HS code is kilograms (KG), which is the standard unit of measurement for most commodities traded internationally. This ensures consistency and accuracy in determining the quantity of aluminum stranded wire, cables, and articles being imported or exported.
Furthermore, several special tariff preference programs are available for this HS code. These programs provide certain countries with duty-free treatment or reduced tariffs, promoting international trade and economic cooperation. The countries eligible for these programs include Australia, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, Singapore, and various other countries under specific trade agreements.
For example, the Caribbean Basin Initiative (CBI) allows duty-free treatment for aluminum stranded wire, cables, and articles imported from eligible countries in the Caribbean region. Similarly, the Andean Trade Preference Act (ATPA) offers preferential treatment for goods originating from Andean countries.
Importing US states for HS Code 76141050 include Maryland and the District of Columbia. These states are actively engaged in the importation of aluminum stranded wire, cables, and articles for various industries and infrastructure projects.
On the other hand, the exporting US states for this HS code are Alabama, Colorado, Iowa, Kansas, New York, West Virginia, and the Virgin Islands. These states are known for their manufacturing capabilities and supply of high-quality aluminum stranded wire, cables, and articles to domestic and international markets.
HS Code 76141050 represents aluminum stranded wire, cables, and articles with a steel core. Understanding the details of this code, including the associated duty rates and special tariff preference programs, is essential for importers, exporters, and businesses involved in the aluminum industry. By adhering to the regulations and leveraging the available trade programs, companies can optimize their international trade activities and contribute to the growth of the global aluminum market.