HS Code 27112900: Petroleum Gases and Other Gaseous Hydrocarbons, Except Natural Gas
Petroleum gases and other gaseous hydrocarbons, except natural gas, fall under the HS code 27112900. This code is used to classify and identify these specific products for international trade purposes. In this article, we will explore the product description, duty rates, quantity unit, and special tariff preference programs associated with HS code 27112900.
Product Description:
HS code 27112900 encompasses petroleum gases and other gaseous hydrocarbons, excluding natural gas. These gases are derived from petroleum refining or natural gas processing and are commonly used as fuel sources or as feedstocks for various industrial processes. Examples of such gases include liquefied petroleum gas (LPG), ethylene, propylene, butane, and propane.
Bound / MFN Duty Rate:
The bound duty rate for HS code 27112900 is free. This means that countries are not required to impose any import duties on these products. The MFN (Most Favored Nation) duty rate refers to the tariffs applied to imports from all trading partners and is also set at zero for this HS code.
It is important to note that when a country lowers a trade barrier or opens up its market, it must do so for the same goods or services from all its trading partners. This principle ensures fair and non-discriminatory trade practices.
Quantity Unit:
The quantity unit used for HS code 27112900 is barrels (BBL). This unit of measurement is commonly used in the petroleum industry to quantify the volume of liquid or gaseous hydrocarbons.
Special Tariff Preference Programs:
HS code 27112900 may be eligible for special tariff preference programs in certain circumstances. These programs provide preferential treatment to specific countries or regions, encouraging trade and economic cooperation.
For importing into the United States, the specific states of Puerto Rico, Hawaii, Idaho, Maine, Montana, North Dakota, South Dakota, Vermont, Washington, and Wisconsin are mentioned as potential recipients of these special tariff preferences for HS code 27112900.
On the other hand, for exporting from the United States, the states of Louisiana, Maryland, Pennsylvania, Texas, Washington, Wyoming, North Dakota, Texas, Washington, Arizona, Maine, Michigan, Nebraska, New York, and North Dakota are listed as potential beneficiaries.
These special tariff preference programs aim to support economic development, regional integration, and trade partnerships between the countries or regions involved.
HS code 27112900 represents petroleum gases and other gaseous hydrocarbons, excluding natural gas. It is classified under this code for trade purposes, allowing for easy identification and standardization. The duty rate is free, and the quantity unit is measured in barrels (BBL). Furthermore, special tariff preference programs are available for specific importing and exporting US states, promoting trade cooperation and economic growth.
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