The HS Code 76161070 refers to aluminum screws, bolts, nuts, screw hooks, washers, and similar articles with shanks, threads, or holes over 6 mm in diameter. This code is used to classify and track the import and export of these specific aluminum products.
Aluminum is a widely used metal in various industries due to its lightweight, durability, and corrosion resistance. It is commonly used in construction, automotive, aerospace, and electrical applications. The products classified under HS Code 76161070 play a crucial role in these industries, providing secure fastening solutions for various components.
When importing or exporting aluminum screws, bolts, nuts, and similar articles, it is essential to understand the associated duty rates and special tariff preference programs. The bound or MFN (Most Favored Nation) duty rate for this HS code is 5.5%. 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 quantity unit for this HS code is kilograms (KG). This unit of measurement is used to determine the weight of the imported or exported aluminum products. It is crucial for accurate trade documentation and logistics purposes.
Furthermore, several special tariff preference programs provide duty-free treatment for aluminum screws, bolts, nuts, and similar articles classified under HS Code 76161070. These programs aim to promote trade and economic cooperation between participating countries. The countries that offer duty-free treatment for these products include:
The availability of these special tariff preference programs allows businesses to import or export the specified aluminum products at a reduced or zero duty rate, promoting international trade and economic growth.
When importing or exporting aluminum screws, bolts, nuts, and similar articles under HS Code 76161070, it is crucial to comply with the regulations and requirements imposed by the importing and exporting countries. Proper documentation, including accurate classification under the HS code, is essential for smooth customs clearance and trade facilitation.
HS Code 76161070 represents aluminum screws, bolts, nuts, screw hooks, washers, and similar articles with shanks, threads, or holes over 6 mm in diameter. This code plays a significant role in classifying and tracking the import and export of these aluminum products. Understanding the associated duty rates and special tariff preference programs is crucial for businesses engaged in international trade of these products, ensuring compliance and facilitating smooth trading operations.