Copper alloys are widely used in various industries due to their excellent electrical and thermal conductivity, corrosion resistance, and malleability. HS Code 74072938 specifically refers to copper alloys other than cupro-nickel or nickel silver, in the form of profiles (excluding hollow profiles).
When it comes to international trade, the HS code plays a crucial role in classifying and identifying products for customs purposes. This unique code allows customs officials and businesses to accurately assess duties, tariffs, and trade statistics associated with specific products. HS Code 74072938 provides a standardized classification for the import and export of copper alloy profiles.
One important aspect to consider is the bound or most-favored-nation (MFN) duty rate associated with this HS code. The bound duty rate for HS Code 74072938 is 3%. This means that whenever 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.
The quantity unit for this HS code is kilograms (KG). This unit of measurement is used to quantify the weight of the copper alloy profiles being imported or exported.
Furthermore, there are special tariff preference programs in place for HS Code 74072938. These programs provide certain countries with preferential treatment, often in the form of duty-free access. The countries eligible for these programs include:
These preferential programs aim to promote trade and economic cooperation between countries by eliminating or reducing tariffs and duties on specific goods.
Looking specifically at the United States, the importing states for HS Code 74072938 include Minnesota, New Mexico, Oklahoma, Virgin Islands, Arizona, Connecticut, Florida, Georgia, Louisiana, and New Jersey. These states are the primary destinations for copper alloy profiles imported into the United States.
On the other hand, the exporting states for HS Code 74072938 are New Mexico, Wyoming, Utah, Missouri, Hawaii, and New York. These states are the major sources of copper alloy profiles being exported from the United States.
HS Code 74072938 is a classification that represents copper alloys (other than cupro-nickel or nickel silver) in the form of profiles (excluding hollow profiles). This code is essential for customs officials, businesses, and trade organizations in accurately identifying, tracking, and assessing duties and tariffs associated with these copper alloy profiles. The bound duty rate, quantity unit, and special tariff preference programs further add to the comprehensive understanding of this HS code.