The HS Code 72249000 represents alloy (o/than stainless) steel, semifinished products. This article will provide an extensive overview of the HS code, its product description, and other relevant information.
The HS Code 72249000 refers to alloy (o/than stainless) steel, semifinished products. This category includes various forms of steel, excluding stainless steel, that are in an intermediate state of processing. Semifinished steel products can include billets, ingots, slabs, blooms, or similar forms.
Alloy steel, as opposed to stainless steel, contains elements other than iron and carbon. These additional elements, such as manganese, chromium, nickel, or molybdenum, impart specific properties to the steel, such as increased strength, hardness, or corrosion resistance. Semifinished steel products serve as intermediate materials for further processing, such as forging, rolling, or extrusion, to produce finished products like bars, rods, or sheets.
The bound or most-favored-nation (MFN) duty rate for HS Code 72249000 is free. This means 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. The absence of duty tariffs on alloy steel semifinished products encourages international trade and facilitates the flow of these materials across borders.
The quantity unit for HS Code 72249000 is kilograms (KG). This unit of measurement indicates the weight of the alloy steel semifinished products being imported or exported. It allows for accurate record-keeping and calculation of quantities involved in trade transactions.
There are various special tariff preference programs that may apply to the import or export of alloy steel semifinished products under HS Code 72249000. These programs aim to promote trade, economic development, and cooperation between countries by providing preferential treatment in terms of duty rates or trade facilitation measures.
When importing HS Code 72249000 alloy steel semifinished products into the United States, the state of Illinois is a significant destination. Illinois, known for its industrial base and steel manufacturing capabilities, presents a potential market for these products. Companies involved in the steel industry can explore opportunities to supply alloy steel semifinished products to manufacturers or further processors in Illinois.
On the other hand, the state of Alabama is listed as an exporting state for HS Code 72249000. This suggests that Alabama has a significant presence in the production and export of alloy steel semifinished products. It highlights the state's contribution to the steel industry and its role in supplying these materials to domestic and international markets.
Overall, the HS Code 72249000 encompasses alloy (o/than stainless) steel, semifinished products, which serve as intermediate materials for further processing. Understanding the product description, duty rates, quantity units, and special tariff preference programs related to this HS code is essential for businesses involved in the international trade of alloy steel semifinished products.