Semiprecious stones have been valued for their beauty and rarity for centuries. These stones, which include a wide variety of minerals, are used to create exquisite articles that are not only visually appealing but also hold cultural and historical significance. The HS Code 71162040 specifically refers to semiprecious stone articles that are not classified as jewelry or figurines. Let's explore more about this HS code and the products it encompasses.
The product description of HS Code 71162040 states that it includes semiprecious stone articles, excluding rock crystal, that do not fall under the categories of jewelry or figurines. This means that items such as decorative objects, household items, and ornamental pieces made from semiprecious stones are classified under this HS code.
When it comes to international trade, tariffs play a significant role in determining the cost of importing or exporting goods. The bound or most-favored nation (MFN) duty rate for HS Code 71162040 is 10.5%. 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 ensures fair and equal treatment for all countries involved in trade.
However, there are special tariff preference programs that offer reduced or duty-free rates for products falling under HS Code 71162040. The following countries and regions provide special tariff rates for these semiprecious stone articles:
These special tariff preference programs aim to promote economic cooperation and facilitate trade between countries. By offering reduced or duty-free rates, they encourage the import and export of semiprecious stone articles, benefiting both the producers and consumers.
When it comes to the quantity unit for HS Code 71162040, no units are collected (X). This means that the quantity of the articles being imported or exported is not measured or recorded using a specific unit of measurement. Instead, the focus is on the value and classification of the semiprecious stone articles.
Now, let's take a closer look at the importing and exporting states within the United States for products falling under HS Code 71162040:
Importing US States:
Exporting US States:
The importing states within the United States for HS Code 71162040 are primarily located on the East Coast and include Connecticut, Florida, Hawaii, New York, Rhode Island, and the Virgin Islands. On the other hand, the exporting states are more diverse and include California, Florida, Hawaii, Nevada, New Jersey, New York, Rhode Island, Virgin Islands, and even Idaho. This indicates that there is demand for and supply of semiprecious stone articles across various regions within the United States.
HS Code 71162040 encompasses semiprecious stone articles (excluding jewelry and figurines) that are traded internationally. These articles hold both aesthetic and cultural value and are subject to specific tariff rates and preference programs. The importing and exporting states within the United States demonstrate the widespread demand and supply of these semiprecious stone articles. Whether it's a decorative object or an ornamental piece, the beauty and allure of semiprecious stones continue to captivate people around the world.