Iodine, classified under HS Code 28012000, is a chemical element with the symbol I and atomic number 53. It is a rare and essential trace element that plays a crucial role in human health and various industrial applications. In this article, we will explore the product description, duty rates, quantity unit, and special tariff preference programs associated with Iodine.
Iodine is a non-metallic, lustrous, and dark-grayish crystalline solid with a distinctive purple vapor. It is commonly found in seawater, mineral deposits, and certain rocks. Iodine has a wide range of applications, including but not limited to healthcare, pharmaceuticals, food industry, agriculture, and manufacturing.
HS Code 28012000 specifically refers to Iodine. HS stands for Harmonized System, which is an internationally standardized system for classifying traded products. The HS Code is used by customs authorities to identify and categorize goods for import and export purposes. It ensures uniformity and consistency in trade across different countries.
The bound or Most Favored Nation (MFN) duty rate for Iodine is free. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. As a result, the import of Iodine is not subject to any duty charges.
The quantity unit for Iodine is kilograms (KG). This unit of measurement is commonly used in international trade to determine the weight or quantity of goods being imported or exported. It ensures accurate and standardized measurements for efficient trade transactions.
Special tariff preference programs can provide certain benefits or concessions for the import or export of specific goods. While there are no specific programs mentioned for Iodine under HS Code 28012000, it is essential to stay updated with any changes in trade policies and agreements that may affect the import or export of Iodine.
Overall, HS Code 28012000 encompasses the trade of Iodine, a versatile chemical element with numerous applications. Understanding the product description, duty rates, quantity unit, and special tariff preference programs associated with Iodine is essential for businesses and individuals involved in its import or export. Stay informed about the latest trade policies and agreements to ensure smooth and efficient trade transactions.