HS Code 29054200: Pentaerythritol
Pentaerythritol, classified under HS Code 29054200, is a versatile and commonly used chemical compound. In this article, we will explore the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS code.
Pentaerythritol is a white, crystalline powder that is soluble in water and alcohol. It is primarily used in the production of alkyd resins, which are widely used in paints, coatings, and varnishes. Pentaerythritol is also utilized in the manufacturing of synthetic lubricants, plasticizers, explosives, and pharmaceuticals. Its properties such as heat stability, low volatility, and compatibility with various substances make it a valuable ingredient in many industries.
When it comes to trade, the HS Code 29054200 is subject to a bound / MFN (Most Favored Nation) duty rate of 3.7%. This means that every time a country lowers a trade barrier or opens up a market, it must apply the same duty rate to the same goods or services from all its trading partners. This duty rate ensures fair and equal treatment for all countries involved in international trade.
The quantity unit for Pentaerythritol is kilograms (KG). This unit of measurement is commonly used in trade to determine the quantity of goods being imported or exported. It provides a standardized way to quantify the volume of products traded across borders.
Additionally, there are several special tariff preference programs associated with HS Code 29054200. These programs offer specific benefits and exemptions to eligible countries. Some of the special tariff preference programs applicable to Pentaerythritol include:
1. Free: Certain countries excluded from GSP (Generalized System of Preferences) eligibility for that HTS (Harmonized Tariff Schedule) subheading. This program allows duty-free treatment for eligible countries.
2. Australia Special Rate: Australia enjoys a special rate for importing Pentaerythritol, which provides them with favorable duty treatment.
3. Bahrain Special Rate: Bahrain has a special rate for importing Pentaerythritol, granting them duty advantages.
4. NAFTA (North American Free Trade Agreement) for Canada and Mexico: Under NAFTA, Pentaerythritol from Canada and Mexico receives duty-free treatment when imported into the United States.
5. Chile Special Rate: Chile benefits from a special rate for importing Pentaerythritol, resulting in reduced duty obligations.
6. Caribbean Basin Initiative (CBI): This program offers duty-free treatment for Pentaerythritol imported from countries in the Caribbean Basin.
7. Israel Special Rate: Israel enjoys duty-free treatment for Pentaerythritol when exporting to the United States.
8. Andean Trade Preference Act (ATPA): Pentaerythritol imported from countries covered under ATPA receives certain preferential duty rates.
9. Jordan Special Rate: Jordan has a special rate for importing Pentaerythritol, ensuring favorable duty treatment.
10. Morocco Special Rate: Morocco benefits from a special rate for importing Pentaerythritol, resulting in reduced duty obligations.
11. Oman Special Rate: Oman has a special rate for importing Pentaerythritol, granting them duty advantages.
12. Dominican Republic-Central American Special Rate (DR-CAFTA): Pentaerythritol imported from countries covered under DR-CAFTA receives certain preferential duty rates.
13. Peru Special Rate: Peru enjoys a special rate for importing Pentaerythritol, which provides them with favorable duty treatment.
14. Singapore Special Rate: Singapore benefits from a special rate for importing Pentaerythritol, resulting in reduced duty obligations.
It is important for importers and exporters to be aware of these special tariff preference programs to optimize their trading activities and benefit from the reduced duty rates or duty-free treatment available under these programs. Compliance with the rules and regulations of these programs is crucial to ensure smooth and cost-effective international trade operations.
HS Code 29054200 represents Pentaerythritol, a versatile and widely used chemical compound. Its applications in various industries make it a valuable commodity in international trade. The duty rate, quantity unit, and special tariff preference programs associated with this HS code provide valuable information for importers and exporters engaging in trade activities involving Pentaerythritol.
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