Diamond dust and powder fall under the HS Code 71051000. This code is used to classify and identify these specific products for international trade purposes. In this article, we will explore the details of this HS Code, including its product description, duty rates, quantity unit, and special tariff preference programs.
The HS Code 71051000 pertains to diamond dust and powder. Diamond dust refers to tiny particles of diamond that are produced during the cutting and polishing process of diamonds. Diamond powder, on the other hand, is a fine abrasive material made from synthetic or natural diamonds. Both diamond dust and powder have various industrial applications.
The bound / MFN duty rate for products classified under HS Code 71051000 is free. This means that when a country lowers a trade barrier or opens up a market, it must offer the same duty-free treatment to diamond dust and powder from all its trading partners. This encourages fair and equal trade practices among nations.
The quantity unit for diamond dust and powder is measured in carats (CAR). Carat is a unit of weight commonly used in the diamond and gemstone industry. It helps determine the size and value of diamonds and other precious stones.
Under the HS Code 71051000, diamond dust and powder are eligible for special tariff preference programs in several countries. The following countries offer duty-free treatment for these products:
These special tariff preference programs aim to promote trade and economic cooperation between countries. By offering duty-free treatment or special rates, these countries incentivize the import and export of diamond dust and powder.
The data provided does not specify the exporting US states for diamond dust and powder. However, it states that New York is an importing state for these products. This suggests that there is demand for diamond dust and powder in New York, making it an important market for these goods.
HS Code 71051000 is used to classify diamond dust and powder for international trade. This code helps identify and regulate the import and export of these products. With duty-free treatment and special tariff preference programs, countries aim to facilitate the global trade of diamond dust and powder, promoting economic growth and cooperation.