When it comes to international trade, it is essential to have a standardized system for classifying goods. The Harmonized System (HS) provides a universal method for categorizing products, and one such code is HS Code 28500050. In this article, we will explore the details of this particular HS code and its significance in global trade.
HS Code 28500050 encompasses a specific range of chemical compounds known as hydrides, nitrides, azides, silicides, and borides. However, it is important to note that this code excludes compounds made from calcium, titanium, tungsten, or vanadium. These compounds play a crucial role in various industries, including manufacturing, electronics, and energy production.
The bound or Most Favored Nation (MFN) duty rate for HS Code 28500050 is set at 3.7%. 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 duty rate ensures fair and equal treatment for all countries involved in international trade.
The quantity unit for HS Code 28500050 is kilograms (KG). This unit of measurement is commonly used to determine the weight or quantity of the goods being imported or exported. It provides a standardized basis for international trade transactions and facilitates accurate record-keeping and logistics management.
HS Code 28500050 is eligible for various special tariff preference programs. These programs provide certain countries with preferential treatment in terms of duty rates. The following countries enjoy free or special rates for this HS code:
While HS Code 28500050 is a universal code used for international trade, it is also relevant to specific states within the United States. The following states are involved in importing and exporting goods under this HS code:
HS Code 28500050 encompasses hydrides, nitrides, azides, silicides, and borides, excluding those made from calcium, titanium, tungsten, or vanadium. It is subject to a bound / MFN duty rate of 3.7%, and the quantity unit is kilograms (KG). Various special tariff preference programs offer free or special rates for this HS code, benefiting specific countries. Additionally, certain states in the United States, such as Montana, engage in importing and exporting goods under this code. Understanding and utilizing HS codes is crucial for facilitating smooth international trade and ensuring fair treatment for all parties involved.