HS Code 1514.91
Official Classification
Crude oil:
🤖 AI Analysis
HS Code 1514.91 classifies crude oil, which encompasses unrefined petroleum extracted from the ground. This classification is applicable to various grades of crude oil utilized primarily in the energy sector, including the production of gasoline, diesel, and other petroleum products. Industries such as transportation, manufacturing, and energy production heavily rely on this raw material for fuel and energy generation. The general duty rate for imports under this code varies, meaning that the costs associated with importing crude oil can fluctuate based on current trade policies and market conditions. Importers should closely monitor these rates and any potential tariffs, as they can significantly impact overall import costs and pricing strategies in the competitive oil market.
Frequently Asked Questions
How much is the duty for HS Code 1514.91?
The standard general duty rate for importing goods under HS Code 1514.91 into the US is 0% based on the current Harmonized Tariff Schedule.
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