Harmonized System Codes • Schedule B • Harmonized Commodity Description

The HS Code 71162030: A Guide to Semiprecious Stones

Semiprecious stones have been valued and cherished for centuries for their beauty and unique characteristics. These stones, excluding rock crystal, are classified under the HS Code 71162030. This article aims to provide a comprehensive guide to this HS Code, including its product description, duty rates, special tariff preference programs, and the importing and exporting US states.

Product Description

The HS Code 71162030 covers semiprecious stones that are graded and strung temporarily for convenience of transport. These stones, which do not include rock crystal, are known for their aesthetic appeal and are often used in various forms of jewelry and decorative items.

Bound / MFN Duty Rate

The bound / MFN (Most Favored Nation) duty rate for products falling under the HS Code 71162030 is 2.1%. 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.

Quantity Unit

The quantity unit for the HS Code 71162030 is represented as "no units collected (X)." This indicates that the specific unit of measurement for these semiprecious stones is not applicable or not collected.

Special Tariff Preference Programs

Several special tariff preference programs offer favorable treatment for products falling under the HS Code 71162030. These programs include:

• Generalized System of Preferences (GSP): Provides duty-free treatment for eligible products.
• Australia Special Rate: Offers special rate of duty for Australia.
• Bahrain Special Rate: Provides special rate of duty for Bahrain.
• NAFTA for Canada: Grants duty-free treatment under the North American Free Trade Agreement (NAFTA) for Canada.
• Chile Special Rate: Offers special rate of duty for Chile.
• Caribbean Basin Initiative (CBI): Provides duty-free treatment for eligible products from designated Caribbean countries.
• Israel Special Rate: Grants duty-free treatment for Israel.
• Andean Trade Preference Act (ATPA): Offers special rate of duty for countries eligible under ATPA.
• Jordan Special Rate: Provides special rate of duty for Jordan.
• Morocco Special Rate: Offers special rate of duty for Morocco.
• NAFTA for Mexico: Grants duty-free treatment under NAFTA for Mexico.
• Oman Special Rate: Provides special rate of duty for Oman.
• Dominican Republic-Central American Special Rate (DR-CAFTA): Offers special rate of duty for DR-CAFTA countries.
• Peru Special Rate: Provides special rate of duty for Peru.
• Singapore Special Rate: Offers special rate of duty for Singapore.

Importing US States

The following US states import products falling under the HS Code 71162030:

• Connecticut
• Florida
• Hawaii
• New York
• Rhode Island
• Virgin Islands

It is important to note that these importing states may vary over time, and it is advisable to consult the latest trade data for accurate information.

Exporting US States

The following US states export products falling under the HS Code 71162030:

• California
• Florida
• Hawaii
• Nevada
• New Jersey
• New York
• Rhode Island
• Virgin Islands
• Idaho

Similarly, the exporting states for this HS Code can change, and it is recommended to refer to the latest trade data for up-to-date information.

the HS Code 71162030 encompasses semiprecious stones (excluding rock crystal) that are graded and strung temporarily for convenience of transport. Understanding the product description, duty rates, special tariff preference programs, and the importing and exporting US states associated with this HS Code can assist businesses and individuals in engaging in international trade involving these beautiful semiprecious stones.