Toluene, classified under HS Code 27072000, is a chemical compound that is derived from the distillation of high-temperature coal tar or produced in a manner where the weight of aromatic components is greater than the weight of nonaromatic components.
Toluene is a colorless liquid with a sweet, benzene-like odor. It is commonly used as a solvent in various industries, including paints, coatings, adhesives, and petrochemical manufacturing. Toluene is also a key ingredient in the production of benzene, xylene, and other chemicals.
Under the World Customs Organization's Harmonized System (HS), the HS Code 27072000 is specifically assigned to toluene. This code is used for international trade and customs purposes, allowing countries to classify and regulate the import and export of this product.
The Bound / MFN (Most Favored Nation) duty rate for HS Code 27072000 is free. This means that countries applying this code do not impose any customs duties or tariffs on the import or export of toluene. However, it is important to note that trade policies and duty rates may vary between different countries and can be subject to change.
It is worth mentioning that the principle of Most Favored Nation (MFN) treatment ensures that when 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 promotes fairness and equal treatment in international trade.
The quantity unit commonly used for the trade of toluene under HS Code 27072000 is liters (L). This unit of measurement enables accurate and standardized quantification of the volume of toluene being imported or exported.
Special tariff preference programs may exist for the importation of toluene under HS Code 27072000. These programs are designed to provide certain countries or regions with preferential treatment, such as reduced or zero tariffs, to promote trade and economic development.
The importing of toluene under HS Code 27072000 is prevalent in the following US states: Hawaii and Puerto Rico. These states have a significant demand for toluene, likely due to their respective industries and manufacturing sectors.
The exporting of toluene under HS Code 27072000 is prominent in several US states, including Alabama, Colorado, Louisiana, Maryland, Missouri, Montana, Pennsylvania, Utah, Virginia, and West Virginia. These states likely have significant production capacities or access to toluene sources, making them key exporters of this chemical compound.
HS Code 27072000 classifies toluene, a chemical compound derived from high-temperature coal tar distillation or produced with a higher weight of aromatic components compared to nonaromatic components. Understanding the HS code and its associated data is crucial for international trade and customs compliance.