HS Code 73160000: Iron or Steel, Anchors, Grapnels, and Parts Thereof
Iron or steel anchors, grapnels, and their parts fall under HS Code 73160000. This code is used to classify and identify these specific products for international trade purposes. In this article, we will explore the details of this HS code, including its description, duty rates, quantity units, and special tariff preference programs.
Product Description:
HS Code 73160000 refers to iron or steel anchors, grapnels, and parts thereof. Anchors and grapnels are essential tools used to secure marine vessels or other heavy objects to the ground. They are commonly made of iron or steel due to their strength and durability. This HS code encompasses various types of anchors and their respective parts, including hooks, flukes, shanks, and stocks.
Bound / MFN Duty Rate:
The bound or Most Favored Nation (MFN) duty rate for HS Code 73160000 is free. This means that when a country lowers a trade barrier or opens up a market, it must apply the same duty rate of zero to the same goods or services from all its trading partners. This promotes fair and equal trade practices among nations.
Quantity Unit:
No units are collected (X) for HS Code 73160000. This indicates that the quantity of these iron or steel anchors, grapnels, and parts is not measured or reported in a specific unit. The absence of a quantity unit suggests that the import or export of these products is not regulated based on quantity but rather on their classification under the HS code.
Special Tariff Preference Programs:
HS Code 73160000 is eligible for various special tariff preference programs. These programs provide certain countries with preferential treatment in terms of duty-free or reduced-duty access to the United States market. The following programs apply to this HS code:
- Free: Certain countries excluded from GSP eligibility for that HTS subheading (duty-free treatment).
- Australia Special Rate: Duty-free treatment under the Automotive Products Trade Act (APTA).
- Bahrain Special Rate: Duty-free treatment under specific trade agreements.
- NAFTA for Canada: Duty-free treatment under the North American Free Trade Agreement.
- Chile Special Rate: Duty-free treatment under specific trade agreements.
- Caribbean Basin Initiative (CBI): Duty-free treatment for eligible countries in the Caribbean region.
- Israel Special Rate: Duty-free treatment under specific trade agreements.
- Andean Trade Preference Act (ATPA): Duty-free treatment for eligible countries in the Andean region.
- Jordan Special Rate: Duty-free treatment under specific trade agreements.
- Morocco Special Rate: Duty-free treatment under specific trade agreements.
- NAFTA for Mexico: Duty-free treatment under the North American Free Trade Agreement.
- Oman Special Rate: Duty-free treatment under specific trade agreements.
- Dominican Republic-Central American Special Rate (DR-CAFTA): Duty-free treatment for eligible countries in the DR-CAFTA region.
- Peru Special Rate: Duty-free treatment under specific trade agreements.
- Singapore Special Rate: Duty-free treatment under specific trade agreements.
Importing and Exporting US States:
HS Code 73160000 applies to iron or steel anchors, grapnels, and parts that are imported and exported by various states within the United States. The specific states involved in the import and export of these products may vary depending on market demand, manufacturing capabilities, and trade relationships. Some notable states involved in the trade of iron or steel anchors, grapnels, and parts include California (CA), Texas (TX), New York (NY), Illinois (IL), and Florida (FL).
HS Code 73160000 represents iron or steel anchors, grapnels, and parts thereof. This code is used to classify and regulate the international trade of these products. Understanding the product description, duty rates, quantity units, and special tariff preference programs associated with this HS code is crucial for importers, exporters, and policymakers involved in the iron and steel industry.
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