Aluminum, cotters, and cotter pins fall under the HS Code 76161050. This code is used to classify and identify these specific products for international trade purposes. In this article, we will explore the details of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs.
The HS Code 76161050 refers to aluminum, cotters, and cotter pins. Aluminum is a lightweight metal known for its durability and resistance to corrosion. Cotters are small metal fasteners used to secure pins and shafts in place. Cotter pins, on the other hand, are fasteners with a split end that can be inserted into a hole to hold two components together. These products are commonly used in various industries, including automotive, construction, and manufacturing.
The bound or most-favored-nation (MFN) duty rate for HS Code 76161050 is 5.7%. This means that every time a country lowers a trade barrier or opens up a market, it has to apply the same duty rate for the same goods or services from all its trading partners. The duty rate is a percentage of the product's value and is payable upon importation.
The quantity unit for HS Code 76161050 is kilograms (KG). This unit of measurement is used to determine the weight of the imported or exported aluminum, cotters, and cotter pins. It helps in calculating the total quantity of the products and assessing any applicable fees or charges based on weight.
HS Code 76161050 is eligible for various special tariff preference programs. These programs provide certain countries with preferential treatment or duty-free access to the United States market. The following countries are included in the special tariff preference programs for this HS code:
These special tariff preference programs aim to promote trade and economic cooperation between the United States and these countries. Importers and exporters of aluminum, cotters, and cotter pins can take advantage of these programs to reduce or eliminate the applicable duty rates.
HS Code 76161050 pertains to aluminum, cotters, and cotter pins. It is essential for importers, exporters, and customs authorities to correctly classify and identify these products using the HS code. Understanding the duty rates, quantity unit, and special tariff preference programs associated with this code is crucial for international trade transactions involving aluminum, cotters, and cotter pins.