When it comes to international trade, the Harmonized System (HS) codes play a vital role in identifying and classifying various products. One such HS code is 40059900, which represents compounded rubber, unvulcanized, in primary forms, not elsewhere specified or included. In this article, we will delve into the details of this HS code and explore its implications in international trade.
The product description for HS code 40059900 is compounded rubber, unvulcanized, in primary forms, not elsewhere specified or included. This means that it encompasses a wide range of rubber compounds that are in their raw form and have not undergone the process of vulcanization. Vulcanization is a chemical process that imparts strength, elasticity, and durability to rubber. Hence, unvulcanized rubber is more malleable and can be shaped into various forms.
The quantity unit for HS code 40059900 is kilograms (KG). This unit of measurement is used to determine the weight of the unvulcanized rubber being imported or exported.
One of the significant aspects of HS code 40059900 is the bound/MFN (Most Favored Nation) duty rate. This duty rate indicates the tariff applied to the import or export of the product. In the case of this HS code, the bound/MFN duty rate is free. This means that there are no additional tariffs or duties imposed on the import or export of compounded rubber, unvulcanized, in primary forms, not elsewhere specified or included.
Moreover, there are certain special tariff preference programs associated with HS code 40059900. These programs provide specific countries or regions with preferential treatment in terms of duty-free import or export of the product. Some of the special tariff preference programs applicable to this HS code include:
It is worth noting that the duty-free treatment under these special tariff preference programs is applicable to compounded rubber, unvulcanized, in primary forms, not elsewhere specified or included.
When it comes to importing HS code 40059900 to the United States, there are several states involved in the trade. These states include Arkansas, Colorado, Minnesota, Missouri, Nebraska, New Mexico, North Carolina, Ohio, Pennsylvania, Wisconsin, Louisiana, and Virginia.
On the other hand, the United States exports compounded rubber, unvulcanized, in primary forms, not elsewhere specified or included to states such as Arizona, Colorado, Delaware, Maryland, Michigan, Minnesota, New Hampshire, New Mexico, Pennsylvania, Vermont, Wisconsin, West Virginia, and Alabama.
HS code 40059900 holds great significance in international trade, as it represents the import and export of compounded rubber in its raw and unvulcanized form. The duty-free treatment under various special tariff preference programs further promotes trade and encourages countries to lower trade barriers and open up their markets.
Therefore, HS code 40059900 plays a crucial role in facilitating the global trade of compounded rubber, ensuring fair treatment and opportunities for all trading partners.