Mercury, classified under HS Code 28054000, is a product that holds significant importance in various industries. In this article, we will explore the different aspects of this product, including its description, duty rates, quantity units, special tariff preference programs, and the importing and exporting US states.
Mercury, also known as quicksilver, is a heavy, silver-white metallic element that is liquid at normal room temperature. It is commonly found in its natural state and has been used for various purposes throughout history. Mercury has a high density and is known for its unique properties, including its ability to form alloys with other metals.
The HS Code 28054000 specifically refers to mercury. HS Codes, also known as Harmonized System Codes, are a standardized numerical system used for classifying traded products. They are crucial for international trade as they enable uniformity and coherence in the classification of goods across different countries.
By utilizing HS Codes, countries can establish accurate import and export statistics, determine duty rates, and apply necessary regulations related to specific products. In the case of mercury, the HS Code 28054000 serves as the identifier for this particular product.
The bound or MFN (Most Favored Nation) duty rate for mercury is 1.7%. The MFN principle states that whenever 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 principle ensures fairness and equal treatment among trading nations.
With a relatively low duty rate of 1.7%, the importation of mercury becomes more accessible and economically viable for countries engaging in international trade.
The quantity unit for mercury is expressed in kilograms (KG). This unit of measurement is widely used across industries to quantify the amount of mercury being imported or exported. It enables accurate tracking and documentation of the product's movement in international trade.
Mercury, classified under HS Code 28054000, is eligible for various special tariff preference programs. These programs provide specific benefits and exemptions to certain countries when importing or exporting mercury. The following programs apply:
These special tariff preference programs aim to promote trade facilitation, enhance economic cooperation, and encourage mutual benefits between participating countries.
When it comes to importing mercury into the United States, several states play a significant role. These states serve as major importers and distribution hubs for mercury products. Some of the notable importing US states include:
Conversely, certain US states are known for their significant contribution to the export of mercury. These states have notable production capacities and export mercury to various countries worldwide. Some of the prominent exporting US states are:
These states play a crucial role in facilitating the global trade of mercury and contribute to the economic growth and development of the United States.
HS Code 28054000 represents mercury, a valuable product with diverse applications. Understanding the product description, duty rates, quantity units, special tariff preference programs, and the involvement of importing and exporting US states is essential for individuals and businesses engaged in international trade. By adhering to the regulations and utilizing the benefits provided under special tariff preference programs, countries can foster efficient and mutually beneficial trade relationships.