Homogenized or reconstituted tobacco is a type of tobacco that is not suitable for use as wrapper tobacco and is specifically intended for use in cigarettes. This particular type of tobacco falls under the HS Code 24039147.
The HS Code, also known as the Harmonized System Code, is an internationally recognized system for classifying and identifying traded products. It helps streamline customs procedures, ensures consistency in international trade, and facilitates the collection of trade statistics.
The HS Code 24039147 is used to categorize and track homogenized or reconstituted tobacco that is destined for use in cigarettes. It is important to note that this code is specific to this particular type of tobacco and does not encompass other tobacco products or variants.
When it comes to import and export regulations, the HS Code 24039147 plays a crucial role. It allows customs authorities to accurately identify and classify the tobacco being traded, ensuring appropriate duty rates and preferential treatment are applied.
The bound or most-favored-nation (MFN) duty rate for HS Code 24039147 is 350%. 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.
This high duty rate serves as a protective measure for domestic tobacco producers and encourages the consumption of locally-produced tobacco. It also helps in generating revenue for the government.
The quantity unit for HS Code 24039147 is kilograms (KG). This unit of measurement is used to determine the weight of the homogenized or reconstituted tobacco being imported or exported.
In addition to the standard duty rate, there are special tariff preference programs available for HS Code 24039147. These programs offer reduced or duty-free treatment for certain trading partners. Here are some examples:
These special tariff preference programs aim to promote trade and economic cooperation between the participating countries. They provide incentives for trading partners to import or export homogenized or reconstituted tobacco under preferential terms, ultimately benefiting both parties involved.
While the HS Code 24039147 applies to trade on a global scale, it is also relevant to specific regions within countries. In the case of the United States, certain states are involved in the import and export of homogenized or reconstituted tobacco.
When it comes to importing, Florida and Montana are the major states involved. On the other hand, North Carolina, Virginia, Montana, and Ohio are the primary states involved in exporting homogenized or reconstituted tobacco.
These states play a significant role in the domestic tobacco industry and contribute to the overall trade of HS Code 24039147 in the United States.
The HS Code 24039147 is a specific code used to classify and track homogenized or reconstituted tobacco for use in cigarettes. It helps streamline customs procedures, determine duty rates, and facilitate trade statistics. Additionally, special tariff preference programs offer reduced or duty-free treatment for certain trading partners, further promoting international trade.
With the involvement of specific US states in the import and export of this type of tobacco, HS Code 24039147 holds relevance not just on a global scale but also within regional trade dynamics.