The HS Code 73062960 refers to iron or nonalloy steel tubing used for drilling for oil or gas. This code is specific to seamed tubing with an external diameter of 406.4mm or less, or other than circular cross-section. It is an essential product in the oil and gas industry and plays a crucial role in exploration and extraction processes.
When it comes to international trade, the HS code is used to classify goods and products for customs purposes. It helps in the identification and categorization of different items, facilitating smooth and efficient trade between countries. In the case of HS Code 73062960, it represents a specific type of tubing used in the drilling sector.
The product description of HS Code 73062960 is as follows: "Iron or nonalloy steel, seamed, with an external diameter of 406.4mm or less, or other than circular cross-section, tubing of a kind used for drilling for oil or gas."
This description provides clear information about the material composition, construction, size, and purpose of the tubing. It is important for customs officials, importers, and exporters to accurately identify the product using the HS code to ensure proper trade documentation and adherence to regulations.
The bound or most-favored-nation (MFN) duty rate for HS Code 73062960 is free. This means that countries do not impose any tariffs or duties on the import or export of this specific product. The MFN principle ensures that when a country lowers trade barriers or opens up its market, it must do so for the same goods or services from all its trading partners.
This duty rate encourages international trade and promotes fair competition among countries. By eliminating tariffs, it reduces the cost of importing and exporting HS Code 73062960, making it more accessible and affordable for businesses involved in the oil and gas industry.
The quantity unit for HS Code 73062960 is kilograms (KG). This unit of measure is used to determine the weight of the tubing being imported or exported. It helps in calculating shipping costs, determining the quantity of goods being traded, and ensuring compliance with trade regulations.
There are various special tariff preference programs available for different products and industries. Although specific programs related to HS Code 73062960 are not mentioned in the provided data, it is worth exploring potential programs that could offer benefits to importers or exporters of this product.
Special tariff preference programs, such as free trade agreements or preferential trade arrangements, provide certain advantages to eligible countries or businesses. These advantages may include reduced or eliminated tariffs, streamlined customs procedures, and increased market access. Importing and exporting companies should research and determine if any relevant programs exist to optimize their trade operations.
Based on the data provided, the following US states are listed as importing HS Code 73062960:
The repetitive listing of Oklahoma and North Dakota suggests that these states are major importers of iron or nonalloy steel tubing for oil and gas drilling. These states likely have a significant presence in the oil and gas industry, leading to a higher demand for the product. Importers and exporters can focus on these states to explore potential business opportunities and partnerships.
Unfortunately, the data does not provide information about the exporting US states. To gain a complete understanding of the trade dynamics related to HS Code 73062960, it would be beneficial to obtain data on the states exporting this product. This information could reveal patterns, trade routes, and potential areas for growth and collaboration.
HS Code 73062960 represents iron or nonalloy steel tubing used for drilling for oil or gas. It is an essential product in the oil and gas industry, enabling exploration and extraction processes. With a bound or MFN duty rate of free, this product enjoys tariff-free trade between countries. Importers and exporters should explore special tariff preference programs that may provide additional benefits. The quantity unit is kilograms (KG), and the listed importing US states include Oklahoma and North Dakota. Further data on exporting US states would provide a more comprehensive understanding of the trade dynamics related to this HS code.