HS Code 72044900: Ferrous Waste and Scrap Nesoi

Ferrous waste and scrap nesoi falls under HS Code 72044900. This code is used to classify and categorize imports and exports of this specific product. In this article, we will delve into the details of this HS Code, including its description, duty rates, quantity units, and special tariff preference programs.

Product Description

The product described under HS Code 72044900 is ferrous waste and scrap nesoi. This term refers to waste and scrap materials composed of iron or steel that do not fall into any other specific category. It encompasses a wide range of discarded metal materials that can be recycled and used in various industries.

Duty Rates

The bound or most favored nation (MFN) duty rate for HS Code 72044900 is free. This means that countries are not required to pay any tariffs or duties when importing or exporting this product. The principle behind this is that when 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.

Quantity Unit

The quantity unit for HS Code 72044900 is metric tons (T). This unit of measurement is commonly used to determine the weight of ferrous waste and scrap nesoi during international trade transactions.

Special Tariff Preference Programs

There are several special tariff preference programs associated with HS Code 72044900. These programs offer different duty rates or exemptions for specific countries or regions. The following are the special tariff preference programs applicable to this HS Code:

Free: Imports from least-developed beneficiary developing countries eligible for Generalized System of Preferences (GSP) under that subheading receive duty-free treatment.
Australia Special Rate: Australia enjoys a special duty rate for imports of ferrous waste and scrap nesoi.
Bahrain Special Rate: Bahrain benefits from a special duty rate for this product.
NAFTA for Canada: Ferrous waste and scrap nesoi imported from Canada receive duty-free treatment under the North American Free Trade Agreement (NAFTA).
Chile Special Rate: Chile enjoys a special duty rate for this product.
Africa Growth and Opportunity Act (AGOA): Imports from eligible African countries under AGOA receive duty-free treatment.
Caribbean Basin Initiative (CBI): Ferrous waste and scrap nesoi imported from eligible Caribbean countries receive duty-free treatment under the CBI.
Israel Special Rate: Israel benefits from a special duty rate for this product.
Andean Trade Preference Act (ATPA): Imports from eligible Andean countries under ATPA receive duty-free treatment.
Jordan Special Rate: Jordan enjoys a special duty rate for imports of ferrous waste and scrap nesoi.
NAFTA for Mexico: Ferrous waste and scrap nesoi imported from Mexico receive duty-free treatment under NAFTA.
Oman Special Rate: Oman benefits from a special duty rate for this product.
Dominican Republic-Central American Special Rate (DR-CAFTA): Ferrous waste and scrap nesoi imported from DR-CAFTA countries receive a special duty rate.
Peru Special Rate: Peru enjoys a special duty rate for imports of ferrous waste and scrap nesoi.
Singapore Special Rate: Singapore benefits from a special duty rate for this product.
2.2%: Morocco receives a special duty rate of 2.2% for imports of ferrous waste and scrap nesoi.

Importing and Exporting US States

The following US states are major importers of ferrous waste and scrap nesoi classified under HS Code 72044900:

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

On the other hand, the following US states are major exporters of ferrous waste and scrap nesoi classified under HS Code 72044900:

Nevada
California
Connecticut
Hawaii
Maine
Maryland
Massachusetts
New Jersey
Rhode Island
Washington