In the world of international trade, it is essential to have a standardized system for classifying and identifying products. One such system is the Harmonized System (HS) code, which is used by customs authorities to classify goods for the purpose of tariff and statistical data. In this article, we will delve into the details of HS Code 24012031 and explore its product description, duty rates, quantity unit, special tariff preference programs, as well as the importing and exporting states.
HS Code 24012031 refers to tobacco that is partly or wholly stemmed/stripped, not threshed or similarly processed, and contains less than 35% wrapper. This particular code specifically covers tobacco that is flue-cured, burley, or of similar varieties. However, it is important to note that this tobacco is not intended for cigarette production.
The bound / MFN (Most Favored Nation) duty rate for HS Code 24012031 is 40.9 cents per kilogram. The MFN duty rate is applied when a country lowers a trade barrier or opens up a market. It is essential for countries to treat the same goods or services from all its trading partners equally, ensuring fair and non-discriminatory trade practices.
The quantity unit for HS Code 24012031 is kilograms (KG). This unit of measurement is used to determine the weight of the tobacco being imported or exported.
HS Code 24012031 is eligible for several special tariff preference programs. These programs offer preferential treatment in terms of duty rates to certain countries or regions. Here are some of the special tariff preference programs applicable to this HS code:
When it comes to the importing and exporting of tobacco under HS Code 24012031, certain states play a significant role. Here are the states involved:
Importing US States:
Exporting US States:
As you can see, these states contribute to the import and export of tobacco under HS Code 24012031, playing a vital role in the global tobacco trade.
HS Code 24012031 encompasses tobacco that is stemmed/stripped, not threshed or similarly processed, and contains less than 35% wrapper. Understanding the details of this HS code, including the duty rates, quantity unit, special tariff preference programs, and the involvement of specific US states, provides valuable insights into the international trade of tobacco. With this knowledge, importers and exporters can navigate the complexities of customs regulations and make informed decisions in their trade endeavors.