When it comes to international trade, the Harmonized System (HS) code plays a crucial role in identifying and classifying various products. One such HS code is 70021010, which represents glass in balls that are unworked and not exceeding 6mm in diameter. Let us delve deeper into the details of this product and explore its significance in global trade.
The HS code 70021010 specifically refers to glass balls that are larger than microspheres covered under heading 7018. These glass balls are unworked and have a maximum diameter of 6mm. Unworked glass means that the balls have not undergone any processing, such as cutting, shaping, or polishing.
Glass balls are used in various applications, including industrial, scientific, and decorative purposes. Due to their small size, they are often utilized in precision instruments, ball bearings, grinding media, and as fillers in composites. The unworked nature of these glass balls allows for customization and further processing according to specific requirements.
The bound or most-favored-nation (MFN) duty rate applicable to HS code 70021010 is 3.9%. This means that when a country lowers a trade barrier or opens up a market, it must apply the same duty rate to similar goods or services from all its trading partners. The duty rate is a percentage of the product's customs value and is collected upon importation.
The duty rate of 3.9% ensures that there is a level playing field for all trading partners, promoting fair competition and equal treatment in international trade.
The quantity unit for HS code 70021010 is kilograms (KG). This unit of measurement is used to determine the weight of the imported glass balls. It provides a standardized method for trade transactions and ensures accurate calculations of quantities.
HS code 70021010 may qualify for special tariff preference programs, which offer reduced or duty-free treatment for imports from specific countries. These programs aim to promote economic development, support disadvantaged regions, and foster trade relationships. Here are some of the special tariff preference programs applicable to this HS code:
These special tariff preference programs provide eligible countries with preferential treatment, either by reducing or eliminating the duty rates for imports. Importers should carefully consider these programs to benefit from cost savings and trade advantages.
HS code 70021010 is relevant for both importing and exporting US states. This means that glass balls falling under this HS code can be imported into or exported from any state within the United States.
Importing states refer to the states where the glass balls are being brought into the US from foreign countries. Exporting states, on the other hand, are the states from which the glass balls are being shipped to international destinations.
Importers and exporters should be familiar with the regulations, documentation requirements, and customs procedures associated with their respective states. Compliance with these regulations ensures smooth and lawful trade operations.
HS code 70021010 represents glass balls that are unworked and have a diameter not exceeding 6mm. It is essential for importers, exporters, and regulatory authorities to correctly classify and identify products using their respective HS codes. This facilitates efficient customs clearance, accurate trade statistics, and the application of appropriate duty rates and trade preferences.
The bound / MFN duty rate of 3.9% ensures equitable treatment for all trading partners, while special tariff preference programs offer potential cost savings and trade advantages for eligible countries.
Whether you are an importer or exporter dealing with glass balls falling under HS code 70021010, understanding the product description, duty rates, quantity units, and special tariff programs will enable you to navigate the complexities of international trade more effectively.