Molasses is a widely used product in various industries, including the commercial extraction of sugar and human consumption. This article provides a comprehensive overview of HS Code 17039030, including its product description, duty rates, quantity units, and special tariff preference programs.
HS Code 17039030 refers to molasses, excluding those derived from cane, which are imported for either (a) the commercial extraction of sugar or (b) human consumption. Molasses is a thick, dark syrup that is a byproduct of the sugar refining process. It is primarily used as a sweetener and flavor enhancer in various food and beverage products.
The bound or Most Favored Nation (MFN) duty rate for HS Code 17039030 is 0.35 cents per liter. This means that every time 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 duty rate is applied to the quantity of molasses imported, calculated in liters (L).
HS Code 17039030 is eligible for several special tariff preference programs that offer reduced or duty-free rates for certain countries. These programs aim to promote trade and economic cooperation between countries. The following countries and regions enjoy special tariff rates for molasses imports:
These special tariff preference programs aim to facilitate trade and strengthen economic ties between the importing and exporting countries. They provide benefits such as reduced or eliminated duties, making imports more affordable and encouraging trade.
HS Code 17039030 is imported into the United States, specifically the Virgin Islands. The Virgin Islands are known for their importation and consumption of molasses. However, there is no specific information available regarding the exporting US states for this particular HS code.
HS Code 17039030 encompasses molasses imported for the commercial extraction of sugar or human consumption. It is subject to a duty rate of 0.35 cents per liter. Special tariff preference programs offer reduced or duty-free rates for certain countries, promoting trade and economic cooperation. The Virgin Islands are one of the importing US states for this HS code.