Cobalt oxides and hydroxides are essential materials used in various industries, including electronics, ceramics, and batteries. The HS Code 28220000 specifically refers to these cobalt compounds, including commercial cobalt oxides.
When it comes to international trade, the Harmonized System (HS) is used to classify products for customs purposes. The HS Code 28220000 helps customs authorities identify and categorize cobalt oxides and hydroxides accurately.
Let's dive deeper into the details of this HS Code and explore its significance in global trade.
The product description covered by HS Code 28220000 includes cobalt oxides and hydroxides, as well as commercial cobalt oxides. These compounds play a vital role in various applications due to their unique properties.
Cobalt oxides and hydroxides are commonly used as catalysts, pigments, and additives in ceramics and glass manufacturing. They also find applications in rechargeable batteries, magnetic materials, and as a raw material for cobalt metal production.
The bound or most-favored-nation (MFN) duty rate for HS Code 28220000 is 0.1%. This means that every time a country reduces trade barriers or opens up its market, it must provide the same duty rate for cobalt oxides and hydroxides from all its trading partners.
By maintaining a low duty rate, countries encourage the import and export of cobalt oxides and hydroxides, fostering international trade and cooperation.
The quantity unit for HS Code 28220000 is kilograms (KG). This unit of measurement helps in accurately determining the weight of cobalt oxides and hydroxides being imported or exported.
When trading cobalt compounds, it is crucial to ensure accurate quantity measurements to facilitate smooth transactions and prevent discrepancies.
Several special tariff preference programs are available for countries importing or exporting cobalt oxides and hydroxides under HS Code 28220000. These programs offer preferential treatment and reduced or duty-free rates for eligible trading partners.
These special tariff preference programs aim to promote trade relationships, support economic growth, and foster cooperation among countries involved in cobalt compound trade.
When it comes to importing cobalt oxides and hydroxides under HS Code 28220000, several US states are actively involved. These states include:
These states play a crucial role in facilitating the importation of cobalt compounds, contributing to the growth of various industries that rely on these materials.
On the other hand, Louisiana is also an active participant in exporting cobalt oxides and hydroxides under HS Code 28220000. This indicates that Louisiana not only imports these compounds but also produces and exports them to meet global demand.
Exporting cobalt compounds helps boost the economy of Louisiana and strengthens its position in the international market.
HS Code 28220000 plays a significant role in the global trade of cobalt oxides and hydroxides, including commercial cobalt oxides. This code helps customs authorities classify and regulate the import and export of these compounds accurately.
With the bound duty rate, special tariff preference programs, and involvement of various US states in importing and exporting cobalt compounds, HS Code 28220000 facilitates smooth trade transactions and promotes economic growth in the cobalt industry.