The HS Code 72071200 represents iron or nonalloy steel semifinished products with less than 0.25% carbon and a rectangular cross section (excluding square shapes) that are not elsewhere specified. This code is used to classify and identify this specific type of product for trade and customs purposes.
The product description for HS Code 72071200 is as follows: iron or nonalloy steel semifinished products with less than 0.25% carbon and a rectangular cross section (excluding square shapes) that are not elsewhere specified. This means that the product is made of iron or nonalloy steel and is in a partially finished state, with a specific carbon content and shape.
The bound / MFN duty rate for HS Code 72071200 is free. This means that there are no tariffs or duties imposed on this specific product when it is imported or exported. The free duty rate encourages international trade and ensures that countries treat all trading partners equally when it comes to trade barriers and market access.
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. This principle, known as the most-favored-nation (MFN) treatment, promotes fairness and non-discrimination in international trade.
The quantity unit for HS Code 72071200 is kilograms (KG). This means that the product is measured and traded in terms of weight. The use of kilograms as the quantity unit allows for standardized measurement and facilitates international trade transactions.
There are currently no special tariff preference programs associated with HS Code 72071200. Special tariff preference programs are trade agreements or arrangements between countries that provide preferential treatment, such as reduced tariffs or duty exemptions, for certain products. However, in the case of HS Code 72071200, no specific programs have been identified.
HS Code 72071200 is imported by the following US states:
There is no specific information available regarding the exporting US states for HS Code 72071200. The exporting states may vary depending on the specific trade transactions and market dynamics.
HS Code 72071200 represents iron or nonalloy steel semifinished products with specific characteristics. The code is used for trade classification and customs purposes, and it is essential for ensuring fair and transparent international trade. Understanding the HS code and its associated details is crucial for importers, exporters, and customs authorities to facilitate smooth trade operations.