Linseed or flaxseed oil, and their fractions, boiled, oxidized, dehydrated, sulfurized, blown, or otherwise chemically modified, fall under HS Code 15180020. This code is used to classify and identify these specific types of oils and their derivatives in international trade.
Linseed or flaxseed oil is extracted from the seeds of the flax plant and is known for its various industrial and commercial uses. It is commonly used in paints, varnishes, printing inks, linoleum, and other similar products. The chemical modification of linseed or flaxseed oil can alter its properties, making it suitable for specific applications.
The bound or most-favored-nation (MFN) duty rate for HS Code 15180020 is 6.3 cents per kilogram (kg). This duty rate applies every time a country lowers a trade barrier or opens up a market, ensuring equal treatment for the same goods or services from all trading partners. It promotes fair and non-discriminatory trade practices.
The quantity unit for imports and exports of linseed or flaxseed oil and their fractions is kilograms (kg). This standard unit of measurement allows for accurate and consistent trade data recording.
There are special tariff preference programs available for imports of linseed or flaxseed oil and their fractions under HS Code 15180020. These programs provide preferential treatment in terms of customs duties, offering certain countries reduced or duty-free rates. The following special tariff preference programs apply to this HS Code:
When importing linseed or flaxseed oil and their fractions under HS Code 15180020, it is important to consider the special tariff preference programs available and determine if any apply to the specific trade transaction. Utilizing these programs can result in cost savings and enhanced trade opportunities.
Based on the available data, South Carolina is the exporting state, while the importing state is not specified. This information highlights the relevance and impact of linseed or flaxseed oil and their chemically modified fractions in international trade, with South Carolina being a major player in this industry.
HS Code 15180020 identifies and categorizes linseed or flaxseed oil and their fractions that have undergone chemical modification. The code enables accurate classification, facilitates trade, and determines applicable duty rates and special tariff preference programs. Understanding the significance of this HS Code allows businesses and traders to navigate international trade regulations and leverage opportunities in the linseed or flaxseed oil industry.