When it comes to international trade, HS Code 70049020 plays an important role in identifying and classifying a specific product. This code is used to categorize drawn or blown glass, not elsewhere specified, in rectangular sheets. The glass must have a thickness over 1.5mm but not exceeding 2mm, and an area of over 0.26 square meters.
One of the key aspects of HS Code 70049020 is the bound or most-favored-nation (MFN) duty rate. The MFN duty rate ensures 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. This promotes fairness and equal treatment among trading nations.
The quantity unit for this HS Code is square meters (M2), which indicates the measurement used to determine the area of the glass sheets being imported or exported.
Additionally, there are special tariff preference programs associated with HS Code 70049020. These programs provide certain countries with preferential treatment or duty-free access to the specified goods. The countries included in the special tariff preference programs for this HS Code are:
These special tariff preference programs aim to foster economic cooperation and promote trade between the countries involved. By providing duty-free treatment or special rates, these programs enhance the competitiveness of the goods covered by HS Code 70049020.
Importing and exporting of products under HS Code 70049020 can occur between various US states and their international trading partners. The specific importing and exporting US states may vary depending on the trade relationships and market demands.
HS Code 70049020 refers to drawn or blown glass in rectangular sheets with specific thickness and area measurements. It is an important code for identifying and classifying this particular product in international trade. The bound or MFN duty rate ensures equal treatment among trading partners, while special tariff preference programs provide certain countries with duty-free treatment or special rates. Understanding HS Code 70049020 and its associated regulations is crucial for businesses engaged in import and export activities involving this product.