Cane molasses, classified under HS Code 17031030, refers to a product that is imported for either the commercial extraction of sugar or for human consumption. This article provides an in-depth understanding of the HS code, its product description, duty rates, quantity unit, and special tariff preference programs associated with it.
The HS code 17031030 covers the import of cane molasses specifically used for two purposes. Firstly, it is used in the commercial extraction of sugar, where it plays a vital role in the production process. Secondly, cane molasses can be imported for direct human consumption, as it is often used as a sweetener or flavoring agent in various food products.
The bound or MFN (Most Favored Nation) duty rate applicable to cane molasses under HS code 17031030 is 0.35 cents per liter. It is important to note that this duty rate is subject to change depending on international trade agreements, negotiations, or changes in trade barriers. Whenever 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.
The quantity unit for cane molasses imported under HS code 17031030 is liters (L). This unit of measurement is used to determine the volume of cane molasses being imported, facilitating accurate customs declarations and trade statistics.
Cane molasses under HS code 17031030 is eligible for various special tariff preference programs, which offer reduced or duty-free treatment. These programs are aimed at promoting trade and economic cooperation between countries. The following are some of the special tariff preference programs applicable to cane molasses:
These special tariff preference programs enable importers from specific countries or regions to benefit from reduced or zero tariffs when importing cane molasses for various purposes.
While the specific information regarding the importing and exporting US states for cane molasses under HS code 17031030 is not provided, it is worth noting that the Virgin Islands is mentioned as an importing US state for this product. The exporting US states, however, are not specified in the available data.
HS code 17031030 refers to cane molasses imported for either the commercial extraction of sugar or human consumption. Importers and traders dealing with this product should be aware of the duty rates, quantity unit, and special tariff preference programs associated with it. Understanding these details will help facilitate smooth import processes and take advantage of any applicable tariff preferences.