The HS Code 71123000 refers to ash that contains precious metals or precious metal compounds. This code is used to classify and identify specific goods for international trade purposes. In this article, we will explore the details of this HS Code and its relevance in global trade.
The product described under HS Code 71123000 is ash that contains precious metals or precious metal compounds. This ash may be derived from various sources, such as industrial processes or the incineration of materials containing precious metals. It is important to note that the ash must contain a significant amount of precious metals or their compounds to fall under this HS Code.
Under the Most Favored Nation (MFN) principle, the bound duty rate for products classified under HS Code 71123000 is free. This means that countries must apply the same duty rate for the importation of this product from all their trading partners. Whenever a country lowers a trade barrier or opens up a market, it must do so for this product as well.
The quantity unit for HS Code 71123000 is kilograms (KG). This means that the weight of the ash containing precious metals or precious metal compounds is measured in kilograms for trade and customs purposes.
Several special tariff preference programs are applicable to products classified under HS Code 71123000. These programs offer preferential duty rates or duty-free treatment for eligible countries. Here are the special tariff preference programs and the corresponding duty rates:
These special tariff preference programs provide economic benefits to the countries listed, encouraging international trade and cooperation.
When it comes to the importation of products classified under HS Code 71123000, the following US states are major importers:
These states have a significant demand for ash containing precious metals or precious metal compounds, possibly due to their industrial activities or specialized refining processes.
On the other hand, the major exporting US states for products classified under HS Code 71123000 are:
These states have the capacity to produce and export ash containing precious metals or precious metal compounds, possibly due to their mining operations, industrial processes, or refining facilities.
HS Code 71123000 represents ash containing precious metals or precious metal compounds. This code is used to classify and facilitate the trade of these specific goods. The duty rates, quantity units, and special tariff preference programs associated with this HS Code are essential factors for importers, exporters, and countries engaged in international trade.