Bismuth nitrate, classified under HS Code 28342905, is a chemical compound that plays a significant role in various industries. In this article, we will explore the product description, duty rates, quantity units, special tariff preference programs, and the importing/exporting states of the United States.
Bismuth nitrate is a compound composed of bismuth and nitrate ions. Its chemical formula is Bi(NO3)3. This white crystalline substance is highly soluble in water and has various applications in industries such as pharmaceuticals, cosmetics, and electronics.
The compound is primarily used as a catalyst and oxidizing agent in organic synthesis. It aids in the formation of new chemical compounds and plays a crucial role in the production of pharmaceutical intermediates and dyes.
The bound / MFN (Most Favored Nation) duty rate for HS Code 28342905 is 5.5%. This duty rate applies whenever a country lowers a trade barrier or opens up a market. It is important to note that this duty rate must be applied consistently to the same goods or services from all trading partners of a country.
Duty rates are essential in regulating international trade and ensuring fair competition between countries. They serve as a means to protect domestic industries, generate revenue for the government, and promote economic growth.
The quantity unit for bismuth nitrate is kilograms (KG). This unit of measurement is commonly used in international trade to quantify the amount of a product being imported or exported.
When trading bismuth nitrate, the quantity will be measured in kilograms, allowing importers and exporters to accurately determine the amount of the compound involved in a transaction.
Bismuth nitrate, under HS Code 28342905, is eligible for various special tariff preference programs. These programs aim to promote trade and economic cooperation between countries by providing preferential treatment in terms of duty rates. The following programs offer duty-free treatment for bismuth nitrate:
These special tariff preference programs aim to reduce or eliminate import duties on bismuth nitrate, making it more economically viable for businesses to engage in international trade.
When it comes to importing bismuth nitrate into the United States, the data does not specify any particular state. However, it is essential to note that importers can distribute the compound to various states within the country based on their market demand and business requirements.
As for exporting bismuth nitrate from the United States, the data does not provide any specific states either. Exporters have the flexibility to ship the compound to various destinations worldwide, depending on market demand and international trade agreements.
Bismuth nitrate, classified under HS Code 28342905, is a versatile chemical compound used in various industries. Its product description, duty rates, quantity units, and special tariff preference programs play a crucial role in facilitating international trade. Understanding the intricacies of this HS Code allows businesses to navigate import and export processes more efficiently and take advantage of preferential treatment offered by special tariff preference programs.