Bitumen and asphalt, natural; asphaltites and asphaltic rocks fall under HS Code 27149000. This code is used to classify the product for trade and customs purposes. It is important to understand the details and implications of this HS code, especially for those involved in the import and export of these materials.
HS Code 27149000 covers bitumen and asphalt, natural; asphaltites and asphaltic rocks. Bitumen is a black, viscous material that is derived from petroleum and used in various applications such as road construction, waterproofing, and roofing. Asphaltites and asphaltic rocks are naturally occurring substances similar to bitumen.
The Bound / MFN (Most Favored Nation) duty rate for HS Code 27149000 is free. This means that countries are not required to impose any import duties or tariffs on these products. Free trade promotes economic growth and encourages countries to lower trade barriers for the same goods or services from all trading partners.
The quantity unit for HS Code 27149000 is metric tons (T). This unit of measurement is commonly used to quantify the volume of bitumen and asphalt being imported or exported.
There are no specific special tariff preference programs mentioned for HS Code 27149000. However, it is important to stay updated with any changes in trade agreements or preferential trade programs that may affect the import or export of bitumen and asphalt.
Understanding the import and export patterns of HS Code 27149000 can help businesses make informed decisions regarding trade opportunities and market demand. It is important to comply with the regulations and requirements set by the customs authorities of the importing and exporting countries. Stay updated with any changes in trade policies and preferential trade agreements that may affect the import or export of bitumen and asphalt.