The HS Code 72254070 refers to a specific product category in international trade. In this article, we will explore the details of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs. We will also examine the importing and exporting states in the United States for this particular product.
The product covered under HS Code 72254070 is alloy steel that falls under the category of other stainless, silicon electrical, high-speed, or tool steel. It is in the form of hot-rolled flat-rolled products with a width of 600mm or more. These products are not in coils and have a thickness of less than 4.75mm.
This HS code is specifically designed to classify and facilitate the international trade of this type of alloy steel. It helps customs authorities, importers, and exporters to identify and categorize the product for various trade-related purposes.
The bound or most-favored-nation (MFN) duty rate refers to the tariff rate that a country applies to imports of a specific product. The duty rate for the HS Code 72254070 is free, which means there are no tariffs or duties imposed on the import of this alloy steel product.
It is important to note that the bound or MFN duty rate remains the same for all trading partners of a country. This is done to ensure fair and equal treatment for all countries in international trade. 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.
The quantity unit for the HS Code 72254070 is kilograms (KG). This unit is used to measure the weight of the alloy steel products being imported or exported. It provides a standardized measurement for trade purposes and allows for accurate quantity calculations.
Special tariff preference programs are trade agreements or arrangements between countries that provide certain benefits or concessions for specific products. These programs aim to promote trade and economic cooperation between the participating countries.
For the HS Code 72254070, there may be special tariff preference programs available depending on the countries involved in the trade. These programs can include preferential duty rates, reduced tariffs, or other trade facilitation measures. Importers and exporters should check the specific trade agreements and programs applicable to their trade partners to take advantage of any available benefits.
When it comes to importing the product under HS Code 72254070 into the United States, the data indicates that the state of Wyoming is the primary importer. This suggests that there is significant demand for this alloy steel product in Wyoming. It could be used in various industries, such as manufacturing, construction, or infrastructure development.
On the other hand, the data shows that the state of Alabama is the primary exporter of this product within the United States. This indicates that Alabama has manufacturing capabilities or access to the necessary resources to produce and export the alloy steel covered by HS Code 72254070.
It is worth noting that this information may change over time as trade patterns and demand fluctuate. Importers and exporters should always stay updated with the latest trade data and market trends to make informed decisions.
HS Code 72254070 represents a specific category of alloy steel, which is hot-rolled flat-rolled products. It is important for importers, exporters, and customs authorities to understand the details of this HS code, including its product description, duty rates, quantity unit, and any special tariff preference programs. Furthermore, analyzing the importing and exporting states provides valuable insights into the demand and supply dynamics of this particular alloy steel product in the United States.