The HS Code 72039000 refers to spongy ferrous products, including iron, in the form of lumps, pellets, or similar shapes. These products have a minimum purity of 99.94% by weight. This HS code is used to classify and regulate the import and export of such products.
When it comes to trade barriers and market access, countries are required to treat all their trading partners equally. 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. In the case of HS Code 72039000, the bound or most-favored-nation (MFN) duty rate is free.
The quantity unit for measuring trade in these products is metric tons (T). This allows for standardized measurement and comparison of trade volumes across different countries.
There are also special tariff preference programs associated with HS Code 72039000. These programs provide specific benefits or reduced duty rates for certain countries. The following countries have duty-free treatment under this HS code: Australia, Austria, Bahrain, Canada, Chile, Denmark, Israel, Japan, Jordan, Mexico, Oman, Peru, Singapore, and the United States. Morocco has a special rate of 2.2%.
When it comes to importing, the data shows that the state of Rhode Island in the United States is the primary destination for imports classified under HS Code 72039000. Other importing states include Nevada, Illinois, Mississippi, Ohio, Louisiana, West Virginia, Delaware, Alabama, and Maryland.
On the exporting side, Nevada is the main state in the United States that exports products classified under HS Code 72039000.
HS Code 72039000 represents spongy ferrous products, including iron, of high purity. This code is used to regulate and classify trade in these products, with a bound duty rate of free. Various special tariff preference programs provide additional benefits or reduced duty rates for certain countries. The data indicates that Rhode Island is the primary importing state, while Nevada is the main exporting state for these products.