HS Code 71151000 - Platinum Catalysts in the Form of Wire Cloth or Grill
Platinum catalysts play a crucial role in various industrial processes, particularly in the field of chemical manufacturing. These catalysts are used to enhance the rate of chemical reactions and improve the efficiency of processes. HS Code 71151000 specifically refers to platinum catalysts in the form of wire cloth or grill. In this article, we will explore the details of this HS code and its implications for international trade.
The HS code system is an internationally recognized classification system used to categorize traded goods. It provides a standardized method for identifying and classifying products, making it easier for countries to track and regulate international trade. HS Code 71151000 is specifically assigned to platinum catalysts in the form of wire cloth or grill, ensuring that this product is easily identifiable in trade transactions.
One important aspect to consider when importing or exporting goods is the duty rate associated with the HS code. For HS Code 71151000, the bound or Most Favored Nation (MFN) duty rate is set at 4%. The MFN duty rate ensures that when 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 provides a level playing field for international trade and promotes fair competition.
The quantity unit for platinum catalysts under HS Code 71151000 is grams (GM). This unit of measurement allows for precise tracking and calculation of the quantity of platinum catalysts being traded. It ensures consistency and accuracy in trade transactions involving these catalysts.
In addition to the duty rate, there are special tariff preference programs that can affect the import or export of platinum catalysts under HS Code 71151000. These programs provide various benefits and exemptions, depending on the country involved. For this HS code, the following countries enjoy special tariff preference programs:
- Australia (duty-free treatment)
- Bahrain (special rate)
- Canada (duty-free treatment under NAFTA)
- Chile (special rate)
- European Union (EU) countries (duty-free treatment under the Generalized System of Preferences)
- Israel (duty-free treatment)
- Japan (special rate)
- Jordan (special rate)
- Morocco (special rate)
- Mexico (duty-free treatment under NAFTA)
- Oman (special rate)
- Peru (special rate)
- Singapore (special rate)
These special tariff preference programs provide incentives for trade and encourage countries to strengthen their economic ties. By offering duty-free treatment or special rates, these programs aim to promote trade and foster cooperation among nations.
When it comes to importing platinum catalysts under HS Code 71151000, certain US states have been identified as major importers. These states include Connecticut, Florida, Hawaii, New York, Rhode Island, and the Virgin Islands. These states have a significant demand for platinum catalysts and contribute to the overall import volume of this product.
On the other hand, several US states are known for their exports of platinum catalysts under HS Code 71151000. These states include California, Florida, Hawaii, Nevada, New Jersey, New York, Rhode Island, and the Virgin Islands. These states are major exporters of platinum catalysts and play a crucial role in meeting the global demand for these products.
HS Code 71151000 is specifically assigned to platinum catalysts in the form of wire cloth or grill. This HS code plays a crucial role in the classification and regulation of international trade involving these catalysts. The duty rate, special tariff preference programs, and import-export patterns associated with this HS code provide valuable insights into the global trade dynamics of platinum catalysts.
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