Imitation jewelry has become a popular accessory choice for fashion-conscious individuals around the world. The versatility and affordability of these pieces make them a desirable alternative to precious metal jewelry. HS Code 71171990 specifically refers to imitation jewelry made of base metal, excluding toy jewelry and items such as rope, curb, cable, or chain.
Base metal refers to non-precious metals like copper, zinc, and nickel. These metals are commonly used in the production of imitation jewelry due to their durability and malleability. Whether plated with precious metals or not, the products classified under HS Code 71171990 fall into the category of non-essential base metal jewelry.
When it comes to international trade, tariffs play a significant role. The bound or most-favored-nation (MFN) duty rate for HS Code 71171990 is 11%. This means 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. The consistent duty rate ensures fair trade practices and equal treatment for all countries involved.
There are also special tariff preference programs in place for this HS Code. The products classified under HS Code 71171990 enjoy duty-free treatment under various programs. These include the Generalized System of Preferences (GSP), Australia Special Rate, Bahrain Special Rate, NAFTA for Canada, Chile Special Rate, Caribbean Basin Initiative (CBI), Israel Special Rate, Andean Trade Preference Act (ATPA), Jordan Special Rate, Morocco Special Rate, NAFTA for Mexico, Oman Special Rate, Dominican Republic-Central American Special Rate (DR-CAFTA), and Peru Special Rate. Singapore Special Rate enjoys a preferential duty rate of 1.3% for these products.
When it comes to importing, certain US states have shown a higher demand for HS Code 71171990 products. Connecticut, Florida, Hawaii, New York, Rhode Island, and the Virgin Islands are the main importers of these imitation jewelry items. The data suggests that these states have a thriving market for fashion accessories and a strong consumer base that appreciates affordable yet stylish options.
On the other hand, California, Florida, Hawaii, Nevada, New Jersey, New York, Rhode Island, and the Virgin Islands are the primary exporting states for these imitation jewelry products. This indicates that these states have a significant manufacturing or distribution presence in the imitation jewelry industry.
HS Code 71171990 encompasses a wide range of imitation jewelry made from base metals. The duty rates, special tariff preference programs, and import-export patterns provide valuable insights into the global trade of these products. Understanding these details is crucial for businesses involved in the imitation jewelry industry, as it helps them navigate international trade regulations and identify potential market opportunities.