The HS Code 17024040 refers to a specific product: Glucose in solid form & glucose syrup, containing in dry state at least 20% but less than 50% by weight of fructose, nesoi. This code is used to classify and regulate the import and export of this product across different countries.
When it comes to international trade, countries often have certain trade barriers and tariffs in place to protect their domestic industries. The HS Code system helps in identifying and classifying different products, making it easier to determine the applicable trade barriers and tariffs.
The product description for HS Code 17024040 specifies that it includes glucose in solid form and glucose syrup. Additionally, it must contain at least 20% but less than 50% by weight of fructose in its dry state.
The quantity unit for this HS Code is kilograms (KG). This means that the product is typically measured and traded in kilograms.
Now, let's talk about the duty rates associated with HS Code 17024040. The bound / MFN (Most Favored Nation) duty rate for this product is 5.1%. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners.
However, there are certain special tariff preference programs in place for this product. Some countries offer duty-free treatment for imports of this product under specific programs. For example, countries like Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Morocco, Mexico (under NAFTA), Oman, Dominican Republic (under DR-CAFTA), Peru, and Singapore provide duty-free treatment for HS Code 17024040.
On the other hand, Australia offers a special rate of 3.3% for imports of this product. This means that if you are importing this product into Australia, you will have to pay a duty rate of 3.3%.
When it comes to the United States, the specific information about exporting states is not provided for HS Code 17024040. However, it is worth noting that different states within the US may have their own regulations and requirements for importing and exporting this product.
HS Code 17024040 is used to classify and regulate the import and export of glucose in solid form and glucose syrup containing a specific percentage of fructose. Understanding the HS Code and its associated duty rates and special tariff preference programs is crucial for businesses and individuals involved in international trade.