Molybdenum is a versatile and valuable metal that is used in various industries. In this article, we will explore the HS code 81029560, which specifically refers to molybdenum profiles, plates, sheets, strip, and foil.
The HS code system is an internationally recognized classification system for goods. It is used by customs authorities and traders to classify products for import and export purposes. The HS code 81029560 specifically identifies molybdenum products in various forms.
Molybdenum is a refractory metal with excellent heat and corrosion resistance properties. It has a high melting point and is often used in high-temperature applications such as in the aerospace, electronics, and energy industries. Molybdenum profiles, plates, sheets, strip, and foil are widely used in these industries due to their unique properties.
These molybdenum products are usually manufactured through processes like rolling, forging, and extrusion. They are available in various sizes and thicknesses to suit different applications. Molybdenum profiles are often used in construction and structural projects, while plates and sheets find applications in heat exchangers, furnace components, and electrical contacts.
The HS code 81029560 is associated with a bound or most-favored-nation (MFN) duty rate of 6.6%. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same molybdenum products from all its trading partners. This duty rate applies to imports of molybdenum profiles, plates, sheets, strip, and foil.
When it comes to importing these molybdenum products into the United States, the quantity unit is kilograms (KG). This means that importers and exporters need to specify the weight of the molybdenum products in kilograms when dealing with customs authorities.
There are also special tariff preference programs that offer duty-free treatment for molybdenum profiles, plates, sheets, strip, and foil. These programs include the Generalized System of Preferences (GSP), Australia Special Rate, Bahrain Special Rate, NAFTA for Canada, Chile Special Rate, Caribbean Basin Initiative (CBI), Israel Special Rate, Andean Trade Preference Act (ATPA), Jordan Special Rate, Morocco Special Rate, NAFTA for Mexico, Oman Special Rate, Dominican Republic-Central American Special Rate (DR-CAFTA), Peru Special Rate, and Singapore Special Rate.
These special tariff preference programs provide incentives for importing and exporting molybdenum products, making them more cost-effective and accessible for businesses. It is important for traders to be aware of these programs and the specific requirements and conditions associated with each one.
the HS code 81029560 refers to molybdenum profiles, plates, sheets, strip, and foil. These molybdenum products are widely used in industries such as aerospace, electronics, and energy. The HS code helps classify these products for import and export purposes, and it is important for traders to understand the associated duty rates and special tariff preference programs. By leveraging these programs, businesses can benefit from cost savings and increased market access for molybdenum products.