The HS Code 71049050 refers to synthetic or reconstructed precious or semiprecious stones that are worked, whether graded or not, but not strung (excluding ungraded temporarily strung) and mounted or set. This code is used to classify and identify these specific types of stones in international trade.
When it comes to the bound/Most Favored Nation (MFN) duty rate, it is set at 6.4%. The MFN principle means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. Therefore, this duty rate applies consistently to this particular product.
The quantity unit for this HS Code is "no units collected (X)," which suggests that the measurement or collection of these stones is not based on a specific unit of quantity. This may vary depending on the specific circumstances of the trade.
There are also special tariff preference programs associated with this HS Code. The following countries or regions have granted special rates or duty-free treatment for this product:
When it comes to importing this product into the United States, New York is listed as one of the states where it is commonly imported. Similarly, New York is also listed as one of the exporting states for this HS Code. This indicates that there is trade activity related to synthetic or reconstructed precious or semiprecious stones in New York.
the HS Code 71049050 is used to classify and identify synthetic or reconstructed precious or semiprecious stones that are worked, whether graded or not, but not strung and mounted or set. It has a bound/MFN duty rate of 6.4% and is associated with various special tariff preference programs. New York plays a significant role in both importing and exporting these stones.