When it comes to international trade, it is essential to have a standardized system for classifying products. The Harmonized System (HS) code is a universally recognized code used to classify goods traded across borders. In this article, we will be discussing HS Code 45041010, which pertains to vulcanized sheets and slabs made entirely of agglomerated ground or pulverized cork and rubber.
The product description for HS Code 45041010 clearly indicates that it refers to sheets and slabs made from a combination of cork and rubber. Vulcanization is a process that involves treating rubber with heat and sulfur, resulting in enhanced strength and durability. These vulcanized sheets and slabs are widely used in various industries due to their unique properties.
It is interesting to note that the bound or Most Favored Nation (MFN) duty rate for HS Code 45041010 is free. This means that no import duties or tariffs are imposed on this product when it is traded between countries. However, it is important to remember that this duty rate applies only when a country lowers a trade barrier or opens up a market for the same goods or services from all its trading partners.
The quantity unit for HS Code 45041010 is kilograms (KG), which indicates that the product is usually measured and traded in weight rather than volume or any other unit of measurement.
In addition to the MFN duty rate, there are also special tariff preference programs available for HS Code 45041010. These programs provide certain countries with preferential treatment when trading this specific product. The countries that enjoy duty-free treatment under these programs include Australia, Bahrain, Canada (under NAFTA), Chile, the European Union, Israel, Japan, Jordan, Morocco, Mexico (under NAFTA), Oman, Peru, Singapore, and the United States (under the Dominican Republic-Central American Free Trade Agreement - DR-CAFTA).
Furthermore, it is worth mentioning that HS Code 45041010 is imported and exported by various states within the United States. The exact list of importing and exporting states may vary based on market demand and supply, but this code facilitates smooth trade transactions between different regions within the country.
HS Code 45041010 represents vulcanized sheets and slabs made entirely of agglomerated ground or pulverized cork and rubber. This code is used globally to classify and trade this specific product. With a duty-free MFN rate and special tariff preference programs available, it is evident that this product plays a significant role in international trade. By understanding the HS code system, businesses and individuals involved in import and export can ensure compliance and efficiency in their trading activities.