Harmonized System Codes • Schedule B • Harmonized Commodity Description

HS Code 72029340: All You Need to Know

Product Description: Ferroniobium containing by weight less than 0.02 percent of phosphorus or sulfur or less than 0.4 percent of silicon.

Bound / MFN Duty Rate: 5%

Quantity Unit: Kilograms (KG)

Special Tariff Preference Programs:

• Free (A+, AU, BH, CA, CL, D, E, IL, J, JO, MX, OM, P, PE, SG)

Detail: Free: Only imports from least-developed beneficiary developing countries eligible for GSP under that subheading (duty-free treatment), Australia Special Rate, Bahrain Special Rate, NAFTA for Canada (duty-free treatment), Chile Special Rate, Africa Growth and Opportunity Act (AGOA) (duty-free treatment), Caribbean Basin Initiative (CBI), Israel Special Rate (duty-free treatment), Andean Trade Preference Act (ATPA), Jordan Special Rate, NAFTA for Mexico, Oman Special Rate, Dominican Republic-Central American Special Rate (DR-CAFTA), Peru Special Rate, Singapore Special Rate

• 2.2% (MA)

Detail: Morocco Special Rate

Importing US States:

• Rhode Island
• Rhode Island
• Rhode Island
• Rhode Island
• Rhode Island
• Rhode Island
• Nevada
• Illinois
• Mississippi
• Ohio
• Louisiana
• Louisiana
• Louisiana
• Louisiana
• West Virginia
• Delaware
• Louisiana
• Alabama
• Maryland
• Maryland

Exporting US States:

• Nevada

The HS Code 72029340 refers to a specific product known as Ferroniobium. It is important to understand the details of this HS code, as it provides information about the product description, duty rates, quantity unit, special tariff preference programs, and the states involved in importing and exporting.

The product description of Ferroniobium under HS Code 72029340 states that it contains less than 0.02 percent of phosphorus or sulfur, or less than 0.4 percent of silicon by weight. This information is crucial for importers and exporters to ensure compliance with regulations and quality standards.

The bound / MFN duty rate for HS Code 72029340 is 5%. This means that whenever 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 is applicable to all imports of Ferroniobium under this HS code.

The quantity unit for HS Code 72029340 is kilograms (KG). This unit of measurement provides a standardized way to measure and trade Ferroniobium in the international market.

There are several special tariff preference programs associated with HS Code 72029340. These programs provide different duty rates or duty-free treatment for imports of Ferroniobium. For example, imports from least-developed beneficiary developing countries eligible for GSP under that subheading receive duty-free treatment. Other special rates apply to specific countries such as Australia, Bahrain, Canada (under NAFTA), Chile, Africa (under AGOA), Caribbean Basin countries, Israel, Andean countries (under ATPA), Jordan, Mexico (under NAFTA), Oman, Dominican Republic-Central America (under DR-CAFTA), Peru, and Singapore. Additionally, there is a special rate of 2.2% for imports from Morocco.

In the United States, the importing states for HS Code 72029340 include Rhode Island, Nevada, Illinois, Mississippi, Ohio, Louisiana, West Virginia, Delaware, Alabama, and Maryland. On the other hand, Nevada is the only state involved in exporting Ferroniobium under this HS code.

Understanding the details of HS Code 72029340 is essential for importers, exporters, and anyone involved in international trade. By knowing the product description, duty rates, quantity unit, and special tariff preference programs, businesses can make informed decisions and ensure compliance with trade regulations. Additionally, being aware of the importing and exporting states helps identify potential trade partners and market opportunities.