Ferrosilicon is a type of alloy that is commonly used in various industries, including steel production and foundries. It is composed primarily of iron and silicon, with silicon content ranging from 55% to 80%. The HS Code 72022150 specifically refers to ferrosilicon that contains more than 55% but not more than 80% of silicon.
When it comes to international trade, the Harmonized System (HS) Code is used to classify and categorize different products for customs and statistical purposes. The HS Code 72022150 helps customs authorities and traders identify and track the specific type of ferrosilicon being imported or exported.
One important aspect to consider when dealing with international trade is the bound or most-favored-nation (MFN) duty rate. The MFN duty rate for HS Code 72022150 is set at 1.5%. 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 quantity unit for HS Code 72022150 is kilograms (KG). This unit of measurement is used to determine the weight of the ferrosilicon being traded.
There are also special tariff preference programs available for HS Code 72022150. These programs provide certain countries with preferential treatment in terms of duty rates. For this particular HS Code, the following countries are eligible for special tariff preferences:
When it comes to importing HS Code 72022150 into the United States, certain states have been identified as the main importers. These states include Rhode Island, Nevada, Illinois, Mississippi, Ohio, and Louisiana. On the other hand, Nevada is the main exporting state for this particular product.
HS Code 72022150 represents a specific type of ferrosilicon alloy with a silicon content ranging from 55% to 80%. It is used in various industries and is subject to a 1.5% bound or MFN duty rate. Certain countries are eligible for special tariff preferences, allowing them to import or export this product duty-free. When it comes to the United States, Rhode Island, Nevada, and Louisiana are key states involved in the importation and exportation of HS Code 72022150.