The Harmonized System (HS) code 71131950 refers to precious metal articles of jewelry and parts thereof, excluding silver. These articles may be plated or clad with precious metal, and they fall under the category of "not elsewhere specified or included" (nesoi). This HS code is used to classify and facilitate international trade of these specific products.
When importing or exporting products under HS code 71131950, it is important to understand the relevant information and regulations. This article provides an extensive overview of the HS code, including its product description, duty rates, quantity unit, special tariff preference programs, and the states involved in importing and exporting.
Precious metal articles of jewelry and parts thereof, other than silver, are covered under HS code 71131950. This includes various types of jewelry such as rings, necklaces, bracelets, earrings, and other similar items. The articles may be made of precious metals like gold, platinum, or other non-silver materials. Additionally, they may be plated or clad with precious metal, enhancing their appearance and durability.
The bound or most-favored-nation (MFN) duty rate for HS code 71131950 is 5.5%. This means that every time a country lowers a trade barrier or opens up a market, it must apply the same duty rate for the same goods or services from all its trading partners. Importers and exporters need to consider this duty rate when calculating the costs associated with their transactions.
For HS code 71131950, no units are collected or specified (X). The quantity unit is not applicable in this case, as it depends on the specific type and size of the jewelry articles being imported or exported.
Several special tariff preference programs apply to HS code 71131950, providing certain countries with preferential treatment or duty-free access to the US market. The following programs are relevant:
These special tariff preference programs allow eligible countries to import or export precious metal articles of jewelry and parts thereof under specific conditions, including duty-free treatment or reduced tariff rates.
The following US states are involved in the importation of products under HS code 71131950:
These states participate in the importation of precious metal articles of jewelry and parts thereof, ensuring a flow of these products into the US market.
The following US states are involved in the exportation of products under HS code 71131950:
These states are actively involved in exporting precious metal articles of jewelry and parts thereof, contributing to international trade in this sector.
HS code 71131950 plays a crucial role in classifying and facilitating the international trade of precious metal articles of jewelry and parts thereof, excluding silver. Importers and exporters need to be aware of the product description, duty rates, quantity unit, special tariff preference programs, and the states involved in importing and exporting. Understanding and complying with these regulations is essential for conducting successful trade operations in this industry.