The HS Code 71159040 refers to silver articles that do not fall under the categories of jewelry or silversmiths' wares. This code is used to classify and identify these specific products for import and export purposes. Understanding the HS code and its associated data is essential for international trade and customs regulations.
The product description for HS Code 71159040 includes silver articles that may or may not be clad with silver. These articles can be made of various materials, but the defining characteristic is their silver content. The code excludes jewelry and silversmiths' wares, which have their separate classifications.
The bound / MFN (Most Favored Nation) duty rate for the HS Code 71159040 is 3%. This means that every time 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 duty rate applies to the import and export of silver articles falling under this HS code.
The quantity unit for HS Code 71159040 is grams (GM). This unit of measurement is used to determine the weight or quantity of silver articles being imported or exported. It ensures standardization and accuracy in trade transactions involving these products.
Several special tariff preference programs apply to the import and export of silver articles under HS Code 71159040. These programs provide specific benefits and exemptions to certain countries. The programs applicable to this HS code include:
Several US states are involved in the import of silver articles under HS Code 71159040. These states include:
Several US states are involved in the export of silver articles under HS Code 71159040. These states include:
The HS Code 71159040 plays a crucial role in trade and customs regulations for silver articles. It helps classify and identify these products, ensuring accurate documentation and adherence to specific duty rates and tariff preference programs. Importers and exporters must familiarize themselves with the HS code and associated data to facilitate smoother international trade transactions.