Carbon dioxide is a product that falls under the HS Code 28112100. This article aims to provide an educational overview of carbon dioxide, its uses, and relevant information related to its trade and import-export regulations.
Carbon dioxide is a colorless and odorless gas composed of one carbon atom bonded with two oxygen atoms. It is commonly known by its chemical formula CO2. Carbon dioxide occurs naturally in the Earth's atmosphere as a part of the carbon cycle and is essential for plant photosynthesis. However, it is also produced as a byproduct of various industrial processes, such as combustion and manufacturing.
Carbon dioxide has numerous applications across different industries. It is widely used in the food and beverage industry for carbonation of soft drinks and preservation of perishable goods. Additionally, it is utilized in the oil and gas industry for enhanced oil recovery and as a cooling agent in refrigeration systems. Carbon dioxide is also an essential component in fire extinguishers and is used in various medical and scientific applications.
The bound / MFN duty rate for carbon dioxide under HS Code 28112100 is 3.7%. The bound duty rate refers to the maximum tariff rate that a country can impose on imported goods. However, the MFN (Most Favored Nation) duty rate is the actual rate applied by a country for trade with its trading partners. It is important to note 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.
The quantity unit for carbon dioxide is metric tons (T). This unit of measurement is commonly used to quantify the volume of gases in international trade. It provides a standardized way to express the amount of carbon dioxide being imported or exported.
Carbon dioxide under HS Code 28112100 is eligible for various special tariff preference programs. These programs aim to promote trade and provide preferential treatment to certain countries. The following countries have specific tariff preferences for carbon dioxide:
These special tariff preference programs grant either duty-free treatment or reduced tariff rates for carbon dioxide imported from or exported to the mentioned countries. It encourages trade relationships and provides economic benefits for the participating nations.
When it comes to carbon dioxide trade with the United States, the importing and exporting states play a significant role. While this data is not explicitly mentioned, it is worth highlighting the importance of the US states involved in the carbon dioxide trade. One such example is Wyoming, which may have a notable presence in carbon dioxide production or consumption due to its industrial activities or geographical factors.
carbon dioxide falls under the HS Code 28112100 and has various applications across industries. Its trade is subject to a bound / MFN duty rate of 3.7%, and it is eligible for special tariff preference programs in certain countries. Understanding the HS Code and associated information is crucial for businesses and individuals involved in the import-export of carbon dioxide.