HS Code 94056020: Illuminated Signs, Illuminated Name Plates, and the Like, of Brass
When it comes to international trade, it is essential to have a standardized system for classifying and identifying various products. The Harmonized System (HS) Code provides a universally recognized classification for goods traded across borders. In this article, we will explore the HS Code 94056020, which pertains to illuminated signs, illuminated name plates, and similar products made of brass.
HS Code 94056020 specifically covers illuminated signs and name plates that are made from brass. These products serve a variety of purposes, ranging from commercial signage to decorative pieces. Brass, a metal alloy of copper and zinc, is known for its durability, and it adds an elegant touch to any illuminated signage.
One crucial aspect of the HS Code is its associated duty rates. The bound / MFN (Most Favored Nation) duty rate for products under HS Code 94056020 is 5.7%. This rate applies to all countries that trade in these goods. It is important to note that this rate remains constant, regardless of whether a country increases or decreases its trade barriers or opens up its market.
Regarding quantity units, products under HS Code 94056020 are typically measured in numbers (NO). This unit indicates that the quantity is counted by the number of individual items, rather than by weight or volume.
However, there are certain special tariff preference programs that can impact the duty rates for products under HS Code 94056020. These programs provide specific benefits and exemptions for eligible countries. Some of the notable programs that offer duty-free treatment for this HS Code include:
- Generalized System of Preferences (GSP): This program grants duty-free treatment for eligible developing countries, encouraging their economic growth through international trade.
- Australia Special Rate: Australia has a special rate agreement that reduces or eliminates the duty on illuminated signs and name plates made of brass.
- Bahrain Special Rate: Bahrain also offers a special rate agreement that provides preferential treatment for these products.
- Agreement on Trade in Civil Aircraft: This agreement ensures duty-free treatment for illuminated signs and name plates made of brass used in civil aircraft.
- NAFTA (North American Free Trade Agreement) for Canada and Mexico: Under NAFTA, Canada and Mexico enjoy duty-free treatment for products covered by this HS Code.
- Chile Special Rate: Chile has a special rate agreement that reduces or eliminates the duty on these products.
- Caribbean Basin Initiative (CBI): CBI provides duty-free treatment for eligible countries in the Caribbean region, promoting economic development through trade.
- Israel Special Rate: Israel offers duty-free treatment for illuminated signs and name plates made of brass.
- Andean Trade Preference Act (ATPA): ATPA grants preferential treatment for eligible countries in the Andean region, allowing duty-free access to the US market for these products.
- Jordan Special Rate: Jordan has a special rate agreement that reduces or eliminates the duty on illuminated signs and name plates made of brass.
- Morocco Special Rate: Morocco also offers a special rate agreement that provides preferential treatment for these products.
- Oman Special Rate: Oman has a special rate agreement that reduces or eliminates the duty on illuminated signs and name plates made of brass.
- Dominican Republic-Central American Special Rate (DR-CAFTA): DR-CAFTA grants preferential treatment for eligible countries in the Central American region, allowing duty-free access to the US market for these products.
- Peru Special Rate: Peru offers a special rate agreement that reduces or eliminates the duty on illuminated signs and name plates made of brass.
- Singapore Special Rate: Singapore has a special rate agreement that provides preferential treatment for these products.
It is crucial for importers and exporters to be aware of these special tariff preference programs as they can significantly impact the cost and competitiveness of their products in the global market.
HS Code 94056020 relates to illuminated signs, illuminated name plates, and similar products made of brass. This code provides a standardized classification for these products in international trade. Understanding the associated duty rates and special tariff preference programs is essential for businesses engaged in the import and export of these goods. By staying informed and leveraging the benefits offered by these programs, businesses can optimize their trade operations and enhance their competitiveness.
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