HS Code 85051920 refers to composite goods containing flexible permanent magnets that are not made of metal. This HS code is used to classify and identify these specific products for international trade purposes. In this article, we will explore the details of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs.
The product description for HS Code 85051920 is composite goods containing flexible permanent magnets. Unlike traditional magnets made of metal, these magnets are made of flexible materials. These composite goods can be used in various applications, such as electronics, automotive, medical devices, and more.
The bound / MFN (Most Favored Nation) duty rate for HS Code 85051920 is 4.9%. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. The duty rate is applied to the value of the imported goods and is payable by the importer.
The quantity unit for HS Code 85051920 is number (NO). This unit represents the number of units or pieces of the composite goods containing flexible permanent magnets being imported or exported.
There are several special tariff preference programs associated with HS Code 85051920. These programs provide certain countries with preferential treatment, including duty-free or reduced duty rates. The following countries are eligible for special tariff preference programs for this HS code:
These special tariff preference programs aim to promote trade and economic cooperation between countries by reducing or eliminating import duties for eligible products.
HS Code 85051920 is used for both importing and exporting composite goods containing flexible permanent magnets, other than of metal, in the United States. The specific states involved in the import and export of these goods may vary depending on the business activities and trade relationships between different states and countries.
HS Code 85051920 represents composite goods containing flexible permanent magnets that are not made of metal. This HS code helps classify and facilitate international trade of these products. Importers and exporters need to be aware of the duty rates, quantity unit, and special tariff preference programs associated with this HS code to ensure compliance and take advantage of any applicable benefits.