Harmonized System Codes • Schedule B • Harmonized Commodity Description

HS Code 15042040: Herring Oil and Its Fractions, Other Than Liver Oil

The HS Code 15042040 refers to herring oil and its fractions, excluding liver oil. This code is used to classify and identify this specific product for international trade purposes. HS Codes, or Harmonized System Codes, are a standardized system of product classification that is used globally. They help ensure consistency and accuracy in trade data and facilitate the smooth flow of goods across international borders.

Herring oil is derived from herring, a type of fish found in the Atlantic and Pacific oceans. It is a valuable source of omega-3 fatty acids, which have been shown to have numerous health benefits. Herring oil is commonly used in the production of dietary supplements, animal feed, and various industrial applications.

The MFN (Most Favored Nation) duty rate for HS Code 15042040 is 1 cent per kilogram. The MFN duty rate is the rate applied to imports from all trading partners, regardless of any special tariff preference programs they may have. This rate ensures that countries lower trade barriers and open up their markets equally for all goods or services.

The quantity unit for HS Code 15042040 is kilograms (KG). This unit is used to measure the weight of the herring oil and its fractions being imported or exported.

There are several special tariff preference programs that offer duty-free treatment for herring oil and its fractions (HS Code 15042040). These programs include:

• Generalized System of Preferences (GSP): This program provides duty-free treatment for eligible products imported from specific countries.
• Australia Special Rate: Australia has a special rate for herring oil and its fractions, allowing them to be imported duty-free.
• Bahrain Special Rate: Bahrain offers a special rate for herring oil and its fractions, exempting them from import duties.
• NAFTA for Canada: Under the North American Free Trade Agreement (NAFTA), herring oil and its fractions from Canada can be imported duty-free.
• Chile Special Rate: Chile has a special rate for herring oil and its fractions, providing duty-free treatment.
• Caribbean Basin Initiative (CBI): This program allows certain products, including herring oil and its fractions, from eligible Caribbean countries to be imported duty-free.
• Israel Special Rate: Herring oil and its fractions can be imported duty-free from Israel under this special rate.
• Andean Trade Preference Act (ATPA): The ATPA grants duty-free treatment to herring oil and its fractions from eligible Andean countries.
• Jordan Special Rate: Jordan offers a special rate for herring oil and its fractions, exempting them from import duties.
• Morocco Special Rate: Morocco has a special rate for herring oil and its fractions, allowing them to be imported duty-free.
• NAFTA for Mexico: Herring oil and its fractions from Mexico can be imported duty-free under NAFTA.
• Oman Special Rate: Oman offers a special rate for herring oil and its fractions, providing duty-free treatment.
• Dominican Republic-Central American Special Rate (DR-CAFTA): The DR-CAFTA grants duty-free treatment to herring oil and its fractions from eligible countries in the Dominican Republic and Central America.
• Peru Special Rate: Peru has a special rate for herring oil and its fractions, exempting them from import duties.
• Singapore Special Rate: Herring oil and its fractions can be imported duty-free from Singapore under this special rate.

When importing herring oil and its fractions (HS Code 15042040) into the United States, the following states are commonly involved in the trade:

• Alaska: Being a significant fishing state, Alaska is often involved in the export of herring oil and its fractions.

Overall, HS Code 15042040 plays a crucial role in the international trade of herring oil and its fractions. It allows for the standardized classification, identification, and regulation of this product, ensuring fair trade practices and facilitating global commerce.