When it comes to trade and international commerce, HS codes play a crucial role in identifying and classifying different products. In this article, we will explore HS Code 74091110, which refers to refined copper plates, sheets, and strip in coils with a thickness of 5 mm or more.
HS Code 74091110 specifically applies to copper products that have undergone a refining process to achieve a high level of purity. These products are commonly used in various industries, including electrical, construction, and manufacturing. The code ensures that these specific copper products are accurately identified and classified for international trade purposes.
One important aspect to note is the bound or most-favored-nation (MFN) duty rate associated with HS Code 74091110. The bound duty rate for this code is set at 3%. This means that every time 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 a level playing field and fair trade practices among nations.
The quantity unit for HS Code 74091110 is kilograms (KG). This unit of measurement is commonly used in international trade to quantify the amount of goods being imported or exported.
Furthermore, there are special tariff preference programs associated with HS Code 74091110. These programs provide certain countries with preferential treatment in terms of duty rates. The following countries enjoy duty-free treatment for refined copper plates, sheets, and strip:
These countries have specific trade agreements or programs in place that grant them duty-free treatment for refined copper plates, sheets, and strip under HS Code 74091110. For example, the Generalized System of Preferences (GSP) and NAFTA provide duty-free treatment to certain countries, including Canada and Mexico.
Now, let's delve into the import and export data for HS Code 74091110. The following US states are known for importing refined copper plates, sheets, and strip:
These states have a significant demand for refined copper products, indicating their importance in various industries within these regions.
On the other hand, the following US states are known for exporting refined copper plates, sheets, and strip:
These states have a strong production capacity for refined copper products and are able to meet the demand of both domestic and international markets.
HS Code 74091110 pertains to refined copper plates, sheets, and strip with a thickness of 5 mm or more. It is essential for accurate classification and identification in international trade. The code is associated with a bound duty rate of 3% and is subject to special tariff preference programs for certain countries. The import and export data highlight the demand and production capacity for refined copper products in various US states.