Harmonized System Codes • Schedule B • Harmonized Commodity Description

HS Code 29042045: A Comprehensive Guide to Aromatic Derivatives of Hydrocarbons Containing Nitro or Nitroso Groups

When it comes to international trade, it is crucial to have a standardized system that classifies and categorizes goods. The Harmonized System (HS) code is a universal system used by countries worldwide to classify products for customs, statistical, and other administrative purposes. In this article, we will delve into the details of HS Code 29042045, which covers aromatic derivatives of hydrocarbons containing only nitro or nitroso groups, not elsewhere specified.

Product Description

HS Code 29042045 refers to aromatic derivatives of hydrocarbons that contain either nitro or nitroso groups. These compounds are used in various industries, including pharmaceuticals, dyes, and explosives. The HS code specifically includes products that are not classified under any other subheading.

Duty Rates

The bound (maximum) and MFN (most-favored-nation) duty rate for HS Code 29042045 is 5.5%. The MFN duty rate is applicable every time a country lowers a trade barrier or opens up a market. It ensures that the same goods or services receive equal treatment from all trading partners.

Quantity Unit

The quantity unit for HS Code 29042045 is kilograms (KG). This unit is commonly used in international trade to measure the weight of goods being imported or exported.

Special Tariff Preference Programs

Several special tariff preference programs provide specific benefits and exemptions for goods classified under HS Code 29042045. These programs aim to promote trade and economic growth between participating countries. Here are some notable programs:

• Free Trade Agreement (FTA): Imports from countries with FTA agreements with the United States are eligible for duty-free treatment. Participating countries include Australia, Canada (NAFTA), Chile, Israel, Mexico (NAFTA), Oman, and Peru.
• Generalized System of Preferences (GSP): Least-developed beneficiary developing countries are eligible for duty-free treatment under GSP. This program aims to support economic development in these countries.
• Africa Growth and Opportunity Act (AGOA): Qualifying countries in Africa enjoy duty-free treatment for eligible products, including those classified under HS Code 29042045.
• Caribbean Basin Initiative (CBI): Certain Caribbean countries benefit from duty-free treatment under the CBI program.
• Andean Trade Preference Act (ATPA): Countries in the Andean region, such as Colombia and Peru, receive preferential treatment for their exports to the United States.
• Jordan Special Rate: Jordan has a special rate for certain products, including those falling under HS Code 29042045.
• Singapore Special Rate: Singapore enjoys a special rate of 0.9% for imports classified under HS Code 29042045.

Importing and Exporting US States

HS Code 29042045 is relevant for trade between various importing and exporting states within the United States. The specific states involved in the trade depend on the demand and supply dynamics of aromatic derivatives of hydrocarbons containing only nitro or nitroso groups. However, this information is not provided in the data provided.

Understanding the HS code and its associated details, such as product description, duty rates, and special tariff preference programs, is essential for importers, exporters, and policymakers. It ensures accurate classification, facilitates trade negotiations, and enables the smooth flow of goods across borders. HS Code 29042045 plays a significant role in regulating the trade of aromatic derivatives of hydrocarbons containing nitro or nitroso groups, contributing to the global economy.