Imitation jewelry has become increasingly popular in recent years, offering individuals a more affordable option to accessorize their outfits. One specific category of imitation jewelry is covered under HS Code 71179055. This code refers to imitation jewelry that is not made of base metal and does not exceed a value of 20 cents per dozen pieces or parts.
When it comes to international trade, HS codes play a crucial role in classifying products for customs and regulatory purposes. The HS Code 71179055 helps customs authorities identify and categorize imitation jewelry, facilitating the smooth flow of goods across borders.
The product description for HS Code 71179055 is "Imitation jewelry nesoi, not of base metal, n/o 20 cents/doz. pcs or pts." This description provides important details about the product, including its composition, value, and classification criteria.
The bound / MFN (Most Favored Nation) duty rate for HS Code 71179055 is 7.2%. This means that whenever a country lowers a trade barrier or opens up a market, it must apply the same duty rate for the same category of goods or services from all its trading partners.
The MFN principle is a fundamental principle of the World Trade Organization (WTO) and ensures that countries do not discriminate against any trading partner. It promotes fair and equal trade by ensuring that the same treatment is given to all countries.
In the case of HS Code 71179055, no specific quantity unit is collected (X). This implies that the customs authorities do not require the collection of quantitative data for this particular category of imitation jewelry.
Several special tariff preference programs are available for HS Code 71179055, providing certain countries with preferential treatment or duty-free access to the US market. These programs include:
These special tariff programs aim to promote trade and economic relations between the US and these specific countries by reducing or eliminating import duties on imitation jewelry falling under HS Code 71179055.
While no specific exporting US states are mentioned for HS Code 71179055, it is important to note that Rhode Island is listed as an importing US state. This suggests that there is a demand for imitation jewelry in Rhode Island, making it a potential market for exporters.
HS Code 71179055 covers a specific category of imitation jewelry that is not made of base metal and has a value of no more than 20 cents per dozen pieces or parts. It is important for importers, exporters, and customs authorities to be familiar with this HS code to ensure compliance with trade regulations and benefit from any applicable tariff preferences.