The Harmonized System (HS) Code 73071990 refers to cast iron or steel fittings for tubes or pipes, not elsewhere specified or included. These fittings are essential components used in various industries for connecting pipes and tubes, ensuring proper flow and functionality.
When importing or exporting goods, it is crucial to classify them correctly using the appropriate HS code. The HS code system is a standardized international method for classifying and identifying traded products. It helps streamline customs procedures, facilitate trade negotiations, and collect trade statistics.
The product described under HS Code 73071990 includes various fittings made from cast iron or steel. These fittings are designed to connect tubes or pipes in different configurations, allowing for efficient fluid or gas transfer. Examples of such fittings include couplings, elbows, tees, reducers, flanges, and valves.
The bound or Most Favored Nation (MFN) duty rate for products falling under HS Code 73071990 is 6.2%. This rate applies uniformly to all trading partners when a country lowers a trade barrier or opens up a market for the same goods or services.
The MFN principle ensures that each member of the World Trade Organization (WTO) extends equal treatment to all other WTO members. It prevents discrimination and ensures fair and non-discriminatory access to markets.
The quantity unit for the products classified under HS Code 73071990 is kilograms (KG). This unit of measurement is commonly used to determine the weight of the fittings being imported or exported.
The HS Code 73071990 applies to cast iron or steel fittings for tubes or pipes being imported or exported to and from various US states. Some of the major importing US states for these fittings include:
These states have a significant demand for cast iron or steel fittings due to their thriving industries and infrastructure projects.
When it comes to exporting, the US states known for manufacturing and exporting these fittings to other countries include:
These states have well-established manufacturing facilities and expertise in producing high-quality fittings for global markets.
HS Code 73071990 encompasses cast iron or steel fittings for tubes or pipes. Understanding the HS code system, duty rates, and special tariff preference programs is essential for importers, exporters, and businesses involved in international trade. Proper classification and knowledge of applicable rates and programs can help optimize trade operations and enhance competitiveness in the global marketplace.