The HS Code 71039100 represents a specific category of precious gemstones: rubies, sapphires, and emeralds. These gemstones, whether graded or not, fall under this HS code when they are worked (cut, polished, or shaped), but not yet strung, mounted, or set into jewelry. In this article, we will delve into the details of this HS code, exploring its product description, quantity unit, tariff rates, special tariff preference programs, and the importing and exporting US states.
The product description associated with HS Code 71039100 is "Rubies, sapphires, and emeralds, worked, whether or not graded, but n/strung (ex. ungraded temporarily strung), mounted or set." This means that the gemstones in question have undergone some form of processing, such as cutting or polishing, but have not yet been strung together to create jewelry pieces. They may or may not be graded for quality at this stage.
The bound / MFN (Most Favored Nation) duty rate for HS Code 71039100 is free. This means that when 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. In the case of rubies, sapphires, and emeralds falling under this HS code, no import duties or taxes are levied.
The quantity unit used for HS Code 71039100 is carats (CAR), which is a unit of measurement specifically used for gemstones. Carat weight indicates the size and, to some extent, the value of the gemstone. It is important to note that the quantity unit refers to the weight of the individual gemstones and not their overall volume or size.
HS Code 71039100 is eligible for various special tariff preference programs, which offer different duty rates or duty-free treatments for importing countries. The following countries and preference programs apply to this HS code:
In addition to the above programs, Australia has a special rate of 2.6% for importing gemstones falling under this HS code, while Singapore has a special rate of 1.3%.
For the United States, the importing and exporting states associated with HS Code 71039100 are both New York. This means that New York is a significant hub for the trade of rubies, sapphires, and emeralds within the country.
HS Code 71039100 encompasses the category of rubies, sapphires, and emeralds that have been worked but not yet strung, mounted, or set. It is important for traders and importers to understand the specific regulations, duty rates, and special tariff preference programs associated with this HS code when engaging in international trade.
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