The HS Code 76051100 refers to aluminum wire that has a maximum cross-sectional dimension over 7 mm. This code is used to classify this specific type of aluminum wire for international trade purposes. Understanding the HS code is important for importers, exporters, and customs officials as it helps to streamline the process of international trade and ensures that the correct duties and tariffs are applied.
When importing or exporting goods, it is necessary to know the HS code for accurate classification. The HS code is a standardized system that is used globally to classify products based on their characteristics, composition, and intended use. It is a six-digit code, with additional digits added for more specific classification.
For HS Code 76051100, the product description is clear: it refers to aluminum wire that is not made of an alloy and has a maximum cross-sectional dimension over 7 mm. This code specifically identifies this type of aluminum wire and distinguishes it from other types of aluminum products.
One important aspect of the HS code is the bound or MFN (Most Favored Nation) duty rate. In the case of HS Code 76051100, the bound or MFN duty rate is 2.6%. 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. The bound duty rate ensures that all countries are treated equally in terms of trade.
The quantity unit for HS Code 76051100 is kilograms (KG). This means that the weight of the aluminum wire is measured in kilograms when it is being imported or exported.
There are also special tariff preference programs associated with HS Code 76051100. These programs provide certain countries with preferential treatment in terms of duty rates. For this specific HS code, the following countries are eligible for special tariff preference programs:
These countries have specific agreements in place that allow for duty-free treatment or special rates for aluminum wire classified under HS Code 76051100. It is important for importers and exporters to be aware of these special tariff preference programs to take advantage of any benefits they may offer.
In summary, HS Code 76051100 is used to classify aluminum wire with a maximum cross-sectional dimension over 7 mm. It is important to understand this code when engaging in international trade to ensure accurate classification and appropriate duty rates. Additionally, being aware of the special tariff preference programs associated with this HS code can provide importers and exporters with potential cost-saving opportunities.