The HS Code 99020147 refers to the product Helium, which is identified by its CAS number 7440-59-7. This HS code is categorized under subheading 2804.29.00.
Helium is a chemical element with the symbol He and atomic number 2. It is a colorless, odorless, tasteless, non-toxic, and inert gas. Helium is the second lightest element in the periodic table and is commonly known for its use in filling balloons and airships. However, its applications go beyond just party decorations.
One of the significant uses of helium is in cryogenics. Due to its extremely low boiling point, helium is used to cool superconducting magnets in medical MRI machines, particle accelerators, and nuclear reactors. It is an essential component in the production of liquid helium, which is used to achieve temperatures near absolute zero (-273.15°C or -459.67°F).
Helium is also used in various industrial processes, such as leak detection, welding, and as a protective gas for arc welding. Its low density and non-flammable properties make it an ideal choice for these applications. In addition, helium is utilized in breathing mixtures for deep-sea diving, as it prevents the occurrence of nitrogen narcosis and decompression sickness.
As for its trade regulations, the bound / MFN (Most Favored Nation) duty rate for HS Code 99020147 is free. This means that there are no import duties imposed on helium when it is traded between countries. The principle behind this is that whenever 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.
Unfortunately, the quantity unit for this particular HS code is not available (NA). However, it is important to note that helium is a finite resource and its availability is limited. The majority of the world's helium supply comes from natural gas fields, where it is produced as a byproduct. The United States is one of the leading producers of helium, followed by countries like Qatar, Algeria, and Russia.
In terms of special tariff preference programs, it is essential to consider the importing and exporting US states. These programs provide certain benefits and incentives for specific goods or regions. However, specific information regarding these programs for HS Code 99020147 is not disclosed in the provided data.
HS Code 99020147 refers to helium, a versatile chemical element with various industrial and scientific applications. Its trade is not subject to bound / MFN duty rates, allowing for smooth international transactions. However, considering the limited availability of helium, it is crucial to ensure its responsible usage and explore alternatives in the future.