When it comes to international trade, the Harmonized System (HS) codes play a crucial role in classifying products. One such HS code is 17029040, which represents "Other Cane/Beet Syrups Nesi." In this article, we will delve into the details of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs.
The HS code 17029040 categorizes products that fall under the classification of "Other Cane/Beet Syrups Nesi." This encompasses syrups derived from sugar cane or sugar beet, excluding the commonly known maple syrup. These syrups are often used as sweeteners or flavoring agents in various culinary applications.
The bound or Most Favored Nation (MFN) duty rate for HS code 17029040 is 0.35 cents per liter. This means that every time a country lowers a trade barrier or opens up a market, it must apply the same duty rate for the import of this product from all its trading partners. The duty rate is calculated based on the volume of syrup imported, with 0.35 cents imposed per liter.
The quantity unit for HS code 17029040 is liters (L). This unit of measurement is used to determine the volume of cane or beet syrup being imported or exported. It is essential for accurate trade documentation and customs clearance procedures.
Several specialized tariff preference programs exist for HS code 17029040, allowing certain countries to enjoy preferential treatment or reduced duty rates. Let's take a closer look at some of these programs:
These specialized tariff preference programs aim to promote trade and economic cooperation between countries, offering various benefits to encourage the import and export of specific products.
HS code 17029040 applies to both the importing and exporting of cane/beet syrups in the United States. This means that various states within the country engage in the trade of these syrups, either as importers or exporters. The movement of these products contributes to both domestic and international commerce, supporting the growth of the agricultural and food industries.
HS code 17029040 classifies "Other Cane/Beet Syrups Nesi" and plays a vital role in international trade. Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS code is essential for importers, exporters, and government agencies involved in trade facilitation and regulation. The inclusion of specialized tariff preference programs provides opportunities for countries to enjoy preferential treatment or reduced duty rates, fostering economic cooperation and trade relationships.