Stemware is an essential part of any dining experience, adding elegance and sophistication to the table. If you are in the business of importing or exporting stemware, it is important to understand the HS Code 70132850 and its implications. In this article, we will delve into the details of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs.
The HS Code 70132850 specifically refers to stemware that is not made of pressed and toughened glass, lead crystal, or cut or engraved. The value of each stemware should be over $3 but not exceed $5. Stemware typically includes wine glasses, champagne flutes, and other similar glassware used for serving beverages.
The bound / MFN (Most Favored Nation) duty rate for HS Code 70132850 is 7.5%. 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. Therefore, when importing or exporting stemware under this HS code, a duty rate of 7.5% will be applicable.
The quantity unit for HS Code 70132850 is a number (NO), indicating the number of stemware units being imported or exported. This unit helps in determining the quantity of stemware involved in a particular trade transaction.
HS Code 70132850 is eligible for various special tariff preference programs, allowing for reduced or duty-free treatment in specific circumstances. The following countries and programs provide special rates for importing stemware under this HS code:
These special tariff preference programs aim to promote trade, economic development, and cooperation between countries by offering favorable treatment for specific products.
HS Code 70132850 applies to stemware imported and exported to and from various US states. The specific states involved in the trade will depend on the import and export activities. It is important to consult the relevant trade documents and agreements to determine the specific states involved in a particular transaction.
the HS Code 70132850 refers to stemware that is not made of pressed and toughened glass, lead crystal, or cut or engraved. It carries a bound / MFN duty rate of 7.5% and is measured in the quantity unit of a number. Importers and exporters of stemware under this HS code can benefit from special tariff preference programs, which offer reduced or duty-free treatment in certain circumstances. Understanding the details of this HS code is crucial for smooth and compliant international trade of stemware.