The HS Code 29054500 refers to the product Glycerol. In this article, we will delve into the details of this code, its description, duty rates, quantity unit, and special tariff preference programs associated with it.
Glycerol, also known as glycerine, is a colorless, odorless, and viscous liquid. It is a key ingredient in various industries, including pharmaceuticals, cosmetics, food and beverages, and personal care products. Glycerol is a versatile compound that finds its application as a solvent, sweetener, humectant, and lubricant, among other uses.
The bound or most-favored-nation (MFN) duty rate for HS Code 29054500 is 0.5 cents per kilogram (kg). It is important to note 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. This ensures fair and equal treatment in international trade.
In international trade, the quantity unit for HS Code 29054500 is kilograms (KG). This unit of measurement helps in accurately determining the amount of glycerol being traded between countries. It provides a standardized basis for calculating duties, tariffs, and other trade-related costs.
The HS Code 29054500 is eligible for several special tariff preference programs. These programs offer preferential treatment in terms of duty rates or duty-free treatment for the import and export of glycerol. Some of the notable programs are as follows:
These special tariff preference programs aim to promote trade, foster economic cooperation, and create mutually beneficial relationships between countries.
The import and export of glycerol under HS Code 29054500 involve various US states. The specific states engaged in importing glycerol may include:
Similarly, the exporting US states for glycerol may include:
These states play a crucial role in facilitating the trade of glycerol, ensuring its availability for various industries and consumers.
HS Code 29054500 represents glycerol, a versatile compound with wide-ranging applications. Understanding the code, its duty rates, quantity unit, and special tariff preference programs is essential for businesses, importers, exporters, and policymakers involved in international trade.