The HS Code 12112000 refers to ginseng roots, whether fresh or dried, that are specifically used in perfumery, pharmacy, or for insecticidal, fungicidal, or similar purposes. This code is used to classify and regulate the import and export of these ginseng roots.
When it comes to trade barriers and market access, the MFN (Most Favored Nation) principle applies. This means that every time 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. This ensures fair and equal treatment for all countries involved in international trade.
The quantity unit for ginseng roots classified under HS Code 12112000 is kilograms (KG). This unit helps to standardize the measurement and tracking of the quantity of ginseng roots being traded.
There are also special tariff preference programs associated with HS Code 12112000. Under these programs, certain countries have been granted preferential treatment, which includes duty-free access to the importing country. The countries eligible for these special tariff preferences for ginseng roots under HS Code 12112000 are:
These special tariff preference programs aim to promote trade and economic cooperation between countries, providing opportunities for ginseng producers and exporters to access new markets without facing additional import duties.
Importing and exporting ginseng roots under HS Code 12112000 can occur between various US states. The specific states involved in importing ginseng roots are not mentioned in the provided data, but it is important for ginseng producers and exporters to be aware of the regulations and requirements for each state they wish to trade with.
Similarly, the exporting US states are not mentioned in the data, but they play a crucial role in supplying ginseng roots to meet the demand of international markets.
Overall, HS Code 12112000 serves as a classification system for ginseng roots used in perfumery, pharmacy, and for insecticidal, fungicidal, or similar purposes. Understanding the code, associated duty rates, and special tariff preference programs can help ginseng producers, exporters, and importers navigate the international trade landscape more effectively.