In international trade, goods are classified using a system called the Harmonized System (HS). The HS Code 71059000 refers to natural or synthetic precious or semi-precious stone dust and powder. This code is used to categorize and identify these specific products for customs and trade purposes.
The product description for HS Code 71059000 includes any type of precious or semi-precious stone dust and powder, excluding diamonds. This can include stones such as rubies, emeralds, sapphires, and more. These stones can be either natural or synthetic, meaning they can be created in a laboratory.
When importing or exporting products classified under HS Code 71059000, it is important to be aware of the duty rates associated with these goods. The bound or Most Favored Nation (MFN) duty rate for this code is free. This means that no duty or tariff is applied to these products when they are imported or exported.
Trade barriers and market access are important considerations in international trade. 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. This ensures fair and equal treatment in trade. The free duty rate for HS Code 71059000 reflects this principle of equal treatment.
The quantity unit for HS Code 71059000 is kilograms (KG). This unit of measurement is used to determine the weight of the natural or synthetic precious or semi-precious stone dust and powder being imported or exported.
In addition to the duty rate, there are also special tariff preference programs that may apply to products classified under HS Code 71059000. These programs provide certain countries with preferential treatment, often in the form of duty-free treatment. The following countries are eligible for special tariff preference programs for this HS Code:
When it comes to the importing and exporting of products classified under HS Code 71059000 in the United States, New York is a significant player. New York is both an importing and exporting state for these goods. Its strategic location and access to international markets make it a hub for trade activities.
Overall, HS Code 71059000 encompasses natural or synthetic precious or semi-precious stone dust and powder. This code is used to classify and identify these specific products for customs and trade purposes. Understanding the duty rates, special tariff preference programs, and the role of specific states such as New York is essential for businesses involved in the import and export of these goods.