The HS Code 72085200 refers to iron or nonalloy steel that is hot-rolled into flat-rolled products. These products have a minimum width of 600mm and are not in coils. They are also known as neosi and have a thickness ranging from 4.75mm to 10mm. Furthermore, these products are not clad or plated.
This HS code plays a crucial role in international trade as it helps classify and identify specific goods during the import and export process. It ensures that the correct duties, tariffs, and regulations are applied to the products.
The product description for HS Code 72085200 is as follows:
This description provides a clear understanding of the characteristics and specifications of the iron or nonalloy steel products falling under this HS code.
The bound or most-favored-nation (MFN) duty rate for HS Code 72085200 is free. This means that no duty or tariff is applied when importing these hot-rolled flat-rolled products into a country that has agreed to lower trade barriers or open up its market. It is important to note that this duty rate applies uniformly to all trading partners of that country.
This preferential treatment encourages international trade by reducing import costs for these specific goods. It promotes fair and equal treatment among trading partners, ensuring that the same goods or services receive consistent treatment regardless of the country of origin.
The quantity unit for HS Code 72085200 is kilograms (KG). This unit of measurement is used to determine the weight of the imported or exported iron or nonalloy steel products. It helps calculate the quantity and enables accurate valuation and classification of the goods.
Special tariff preference programs may be available for the importation of products falling under HS Code 72085200. These programs provide additional benefits, such as reduced duties or exemptions, to promote trade and economic development between specific countries or regions.
Several US states import iron or nonalloy steel products classified under HS Code 72085200. The states include:
These states play a significant role in the importation of these products, potentially due to their industrial and manufacturing sectors requiring iron or nonalloy steel for various applications.
The exporting US states for iron or nonalloy steel products falling under HS Code 72085200 may vary depending on market demand and production capabilities. The specific exporting states can be determined based on trade data and market dynamics.
Overall, HS Code 72085200 is essential for classifying and tracking the import and export of iron or nonalloy steel products. It ensures that the correct duties and regulations are applied, promotes fair trade practices, and facilitates international commerce.