Iron or steel screws and bolts are essential components in various industries, including construction, manufacturing, and automotive. These products, classified under HS Code 73181580, are specifically those with shanks or threads measuring 6 mm or more in diameter. In this article, we will explore the details of this HS code, including its description, duty rates, quantity unit, and special tariff preference programs.
The HS Code 73181580 refers to iron or steel screws and bolts that are not elsewhere specified or included (nesoi) in other HS codes. These screws and bolts have shanks or threads with a diameter of 6 mm or more. This code helps to categorize these specific types of fasteners for trade and regulatory purposes.
The bound / MFN (Most Favored Nation) duty rate for HS Code 73181580 is 8.5%. The MFN principle states that when 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 ensures fair and equal treatment for all countries participating in international trade.
The quantity unit for HS Code 73181580 is kilograms (KG). This unit of measurement is commonly used in international trade to quantify the weight or mass of goods being imported or exported. It provides a standardized way to determine the quantity of iron or steel screws and bolts traded under this HS code.
Several special tariff preference programs offer benefits for importing iron or steel screws and bolts classified under HS Code 73181580. These programs provide duty-free treatment or special rates for specific countries. The following are some of the programs and the countries eligible for their benefits:
While the data provided does not specify the exporting countries, it mentions the importing state as Michigan. This suggests that Michigan receives imports of iron or steel screws and bolts classified under HS Code 73181580. Michigan's thriving manufacturing and automotive industries make these products in high demand within the state.
HS Code 73181580 classifies iron or steel screws and bolts with shanks or threads 6 mm or more in diameter. This code helps facilitate international trade by providing a standardized classification system. Importers and exporters should be aware of the duty rates, special tariff preference programs, and the quantity unit associated with this HS code. Understanding these details can assist businesses in optimizing their trade operations and taking advantage of applicable tariff benefits.