HS Code 68029200: Monumental or Building Stone & Arts Thereof
Monumental or building stone and arts thereof, of calcareous stone, not elsewhere specified, further worked than simply cut or sawn, are classified under HS Code 68029200. In this article, we will explore the details of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs.
Product Description:
The HS Code 68029200 refers to monumental or building stone and arts thereof, made of calcareous stone. This category includes products that have undergone further processing beyond simple cutting or sawing. Calcareous stones are primarily composed of calcium carbonate and are widely used in construction and art due to their durability and aesthetic appeal. Examples of calcareous stones include marble, limestone, and travertine.
Duty Rates:
The bound or most-favored-nation (MFN) duty rate for products classified under HS Code 68029200 is 4.9%. 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 is applicable to the import of monumental or building stone and arts thereof, made of calcareous stone, that have undergone further processing.
Quantity Unit:
The quantity unit for products classified under HS Code 68029200 is metric tons (T). This unit of measurement is commonly used in international trade to quantify the weight or volume of goods being imported or exported.
Special Tariff Preference Programs:
Several special tariff preference programs apply to products classified under HS Code 68029200. These programs offer preferential treatment, including duty-free access, to eligible countries. The following are some of the special tariff preference programs relevant to this HS code:
1. Generalized System of Preferences (GSP): Under this program, products from eligible countries are granted duty-free treatment.
2. Australia Special Rate: Australia has a special rate for products classified under HS Code 68029200, providing favorable trade conditions.
3. Bahrain Special Rate: Bahrain offers a special rate for the import of monumental or building stone and arts thereof from this HS code.
4. NAFTA for Canada: Canada benefits from duty-free treatment for products classified under HS Code 68029200 under the North American Free Trade Agreement (NAFTA).
5. Chile Special Rate: Chile has a special rate for the import of these products, ensuring preferential trade conditions.
6. Caribbean Basin Initiative (CBI): The CBI provides duty-free treatment for eligible countries, promoting trade in monumental or building stone and arts thereof.
7. Israel Special Rate: Israel offers duty-free treatment for products classified under HS Code 68029200, encouraging trade in this sector.
8. Andean Trade Preference Act (ATPA): This program grants preferential treatment to eligible Andean countries, including duty-free access.
9. Jordan Special Rate: Jordan has a special rate for the import of monumental or building stone and arts thereof from this HS code.
10. Morocco Special Rate: Morocco offers a special rate for products classified under HS Code 68029200, facilitating trade in this category.
11. NAFTA for Mexico: Mexico benefits from duty-free treatment for products classified under HS Code 68029200 under NAFTA.
12. Oman Special Rate: Oman provides a special rate for the import of these products, promoting trade in this sector.
13. Dominican Republic-Central American Special Rate (DR-CAFTA): DR-CAFTA offers preferential treatment, including duty-free access, for eligible countries trading in monumental or building stone and arts thereof.
14. Peru Special Rate: Peru has a special rate for the import of these products, ensuring favorable trade conditions.
15. Singapore Special Rate: Singapore offers duty-free treatment for products classified under HS Code 68029200, encouraging trade in this sector.
Importing and Exporting US States:
The HS Code 68029200 is relevant for both importing and exporting US states. This means that US states can engage in the import and export of monumental or building stone and arts thereof, made of calcareous stone, that have undergone further processing. The HS code provides a standardized classification system for these products, facilitating trade between different states and countries.
HS Code 68029200 encompasses monumental or building stone and arts thereof, made of calcareous stone, that have undergone further processing. The duty rate for these products is 4.9%, and the quantity unit is metric tons (T). Various special tariff preference programs, including duty-free treatment, apply to this HS code, promoting trade and economic cooperation between countries. Importing and exporting US states can take advantage of this HS code to engage in the trade of monumental or building stone and arts thereof.
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