The HS Code 73053140 refers to a specific product category under the Harmonized System (HS) used for classifying goods in international trade. In this article, we will explore the details of this HS code and delve into its product description, duty rates, quantity unit, and special tariff preference programs.
The product covered by HS Code 73053140 is iron or nonalloy steel tubes and pipes, which are long and welded. These tubes and pipes have a circular cross-section and an external diameter exceeding 406.4mm. They are primarily used in oil and gas drilling activities, among other applications.
Iron or nonalloy steel is a type of steel that does not contain any significant amount of alloying elements. These tubes and pipes are manufactured by welding steel plates or coils together to form a long and continuous structure. The circular cross-section ensures better strength and stability, while the large external diameter allows for efficient transportation of fluids or gases.
The use of these tubes and pipes in oil and gas drilling highlights their importance in the energy sector. They serve as conduits for the extraction and transportation of oil and gas resources, facilitating the global energy supply chain.
The bound or most-favored-nation (MFN) duty rate refers to the rate of duty that a country applies to imports of a particular product. In the case of HS Code 73053140, the bound duty rate is free, meaning there are no tariffs imposed on imports of these tubes and pipes. This implies that countries applying this HS code can import them without any additional costs in the form of customs duties.
The concept of MFN treatment ensures that every time 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. This principle promotes fair and non-discriminatory trade practices, encouraging countries to treat all trading partners equally.
The quantity unit specified for HS Code 73053140 is kilograms (KG). This means that the weight of the tubes and pipes, measured in kilograms, is used as a unit of quantity for import and export purposes. The quantity unit is essential for determining the volume of trade and calculating associated costs.
In addition to the general MFN duty rate of free, there may be special tariff preference programs available for imports of products falling under HS Code 73053140. These programs aim to provide preferential treatment to certain countries or regions, promoting trade and economic cooperation.
However, no specific information about special tariff preference programs for this HS code was found in the provided data. It is worth noting that such programs can vary between countries and may depend on bilateral or regional trade agreements.
According to the available data, the state of Oklahoma in the United States is listed as both an importing and exporting state for HS Code 73053140. This indicates that Oklahoma engages in the trade of iron or nonalloy steel tubes and pipes used in oil and gas drilling.
The presence of both importing and exporting states signifies the importance of these products in the energy industry within Oklahoma. It suggests that the state not only relies on imports to meet its demand but also exports these tubes and pipes to other regions or countries.
HS Code 73053140 represents a specific category of iron or nonalloy steel tubes and pipes used in oil and gas drilling. The code provides a standardized classification for these products in international trade. Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS code is crucial for importers, exporters, and policymakers involved in the energy sector.