When it comes to international trade, it is crucial to have a standardized system for classifying and identifying goods. The Harmonized System (HS) Code is a globally recognized system that assigns a unique code to each product, facilitating smooth and efficient trade between countries. In this article, we will explore the HS Code 71132050, which refers to base metal clad with precious metal articles of jewelry and parts thereof, not elsewhere specified or included.
Base metal clad with precious metal articles of jewelry and parts thereof encompass a wide range of products, including rings, necklaces, earrings, bracelets, and other accessories. These products are made by combining base metals, such as copper or brass, with a layer of precious metals like gold or silver. The result is a beautiful piece of jewelry that combines affordability with the aesthetic appeal of precious metals.
The HS Code 71132050 plays a crucial role in international trade by providing a standardized classification for these products. This code allows customs authorities and traders to identify and categorize base metal clad with precious metal articles of jewelry and parts thereof accurately. It also enables the application of specific import and export duties, as well as the implementation of tariff preference programs.
The bound / Most Favored Nation (MFN) duty rate for HS Code 71132050 is 5.2%. The MFN principle states 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. This means that the 5.2% duty rate applies uniformly to all countries unless specified otherwise through special tariff preference programs.
Several special tariff preference programs apply to imports and exports of base metal clad with precious metal articles of jewelry and parts thereof under HS Code 71132050. These programs provide certain countries with preferential treatment, including duty-free or reduced-duty access to the market. Here are some of the special tariff preference programs applicable to HS Code 71132050:
For HS Code 71132050, the following US states are involved in importing and exporting these base metal clad with precious metal articles of jewelry and parts thereof:
These states play a significant role in the import and export of base metal clad with precious metal articles of jewelry and parts thereof, contributing to the global trade of these products.
HS Code 71132050 refers to base metal clad with precious metal articles of jewelry and parts thereof. This code enables the efficient classification, import, and export of these products, ensuring smooth trade between countries. Understanding the bound / MFN duty rate and the special tariff preference programs applicable to this HS Code is essential for traders and customs authorities. By recognizing the importing and exporting US states, we gain insight into the regional trade dynamics of these base metal clad with precious metal articles of jewelry and parts thereof.