If you have ever wondered about the classification and import/export regulations of ginseng and substances with anesthetic, prophylactic, or therapeutic properties, this article will provide you with a detailed understanding of HS Code 13021940. This HS code specifically pertains to ginseng and similar substances, excluding poppy straw extract.
Ginseng is a popular herbal remedy known for its various health benefits. The product description under HS Code 13021940 covers not only ginseng but also substances that possess anesthetic, prophylactic, or therapeutic properties. This broadens the scope of the code to include other herbal remedies and medications that offer similar benefits.
The bound / MFN (Most Favored Nation) duty rate for HS Code 13021940 is set at 1%. 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 duty rate applies to imports and exports of ginseng and related substances.
The quantity unit for HS Code 13021940 is measured in kilograms (KG). This is the standard unit used for trading ginseng and similar substances.
Under this HS code, ginseng and substances with therapeutic properties may be eligible for special tariff preference programs. The following countries have implemented these programs:
These special tariff preference programs aim to promote trade and facilitate the import/export of ginseng and substances with therapeutic properties between the participating countries.
HS Code 13021940 applies to both importing and exporting ginseng and similar substances within the United States. The following states are involved in the import and export of these goods:
These states play a significant role in the trade of ginseng and contribute to the overall commerce of HS Code 13021940 within the United States.
Whether you are a trader, importer, exporter, or simply interested in ginseng and therapeutic substances, understanding HS Code 13021940 is essential for navigating the regulations and tariffs associated with these products. By adhering to the requirements outlined in the code and taking advantage of the special tariff preference programs, you can ensure a smooth trade process and benefit from the therapeutic properties of ginseng and similar substances.