Harmonized System Codes • Schedule B • Harmonized Commodity Description

The HS Code 29062960: Other Aromatic Alcohols and their Derivatives

The HS Code 29062960 refers to a specific product group known as "Other aromatic alcohols and their halogenated, sulfonated, nitrated or nitrosated derivatives." This code is used to classify and identify these particular substances for import and export purposes. In this article, we will explore the details of this HS Code, including its product description, duty rates, quantity unit, and special tariff preference programs.

Product Description

The product description for HS Code 29062960 encompasses various aromatic alcohols and their derivatives. These substances may undergo processes such as halogenation, sulfonation, nitration, or nitrosation. Aromatic alcohols are organic compounds that contain both an alcohol functional group (-OH) and an aromatic ring structure. By modifying these compounds through halogenation, sulfonation, nitration, or nitrosation, different properties and applications can be achieved.

Examples of aromatic alcohols and their derivatives falling under this HS Code could include compounds like benzyl alcohol, cinnamyl alcohol, or phenethyl alcohol, among others. These substances find applications in various industries, including pharmaceuticals, perfumery, flavorings, and chemical synthesis.

Bound / MFN Duty Rate

The Bound / MFN (Most Favored Nation) duty rate for HS Code 29062960 is 5.5%. This duty rate applies whenever a country lowers a trade barrier or opens up a market. It ensures that the same goods or services from all trading partners receive equal treatment in terms of tariffs. Therefore, any import or export of aromatic alcohols and their derivatives under this HS Code would be subject to a 5.5% duty rate.

Quantity Unit

The quantity unit for HS Code 29062960 is kilograms (KG). This means that the measurement and pricing of these aromatic alcohols and their derivatives are based on their weight in kilograms. The quantity unit is essential for accurate trade transactions, ensuring consistency and transparency in the international market.

Special Tariff Preference Programs

HS Code 29062960 is eligible for various special tariff preference programs, offering specific trade benefits and duty-free treatments for importers and exporters. Some of the notable programs applicable to this HS Code include:

• Free Trade Agreement (FTA) Partners: Imports from countries that have signed Free Trade Agreements with the importing country may receive duty-free treatment. For example, Australia (A+), Bahrain, Canada (NAFTA), Chile, and many others.
• Africa Growth and Opportunity Act (AGOA): This program offers duty-free treatment for imports from eligible African countries, promoting economic growth and development.
• Caribbean Basin Initiative (CBI): Imports from countries in the Caribbean Basin may receive duty-free treatment under this program, supporting economic cooperation and development.
• Andean Trade Preference Act (ATPA): This program grants duty-free treatment for imports from Andean countries, encouraging trade and economic integration.
• Agreement on Trade in Pharmaceutical Products: A duty-free treatment program specifically for pharmaceutical products, fostering access to essential medications.
• Uruguay Round Concessions on Intermediate Chemicals for Dyes: A duty-free treatment program designed to promote the production and trade of intermediate chemicals used in the dye industry.
• Israel Special Rate: Imports from Israel may receive duty-free treatment under this program, strengthening trade relations between participating countries.
• Jordan Special Rate: This program offers duty-free treatment for imports from Jordan, promoting economic cooperation and development.
• Oman Special Rate: Imports from Oman may receive duty-free treatment under this program, enhancing trade between participating countries.
• Dominican Republic-Central American Special Rate (DR-CAFTA): This program grants duty-free treatment for imports from the Dominican Republic and Central American countries, fostering trade and economic integration.
• Peru Special Rate: Imports from Peru may receive duty-free treatment under this program, strengthening trade relations between participating countries.
• Singapore Special Rate: This program offers duty-free treatment for imports from Singapore, promoting economic cooperation and development.

These special tariff preference programs aim to facilitate trade, enhance economic cooperation, and promote the development of participating countries.

Importing and Exporting US States

HS Code 29062960 applies to imports and exports of aromatic alcohols and their derivatives in the United States. This code is relevant for all US states involved in the international trade of these substances. It governs the classification, duty rates, and trade regulations for these goods, ensuring consistency and transparency in import and export transactions.

HS Code 29062960 plays a crucial role in classifying and regulating the import and export of aromatic alcohols and their derivatives. It provides a standardized system for identifying and categorizing these substances, ensuring fair trade practices and facilitating international commerce. Additionally, the availability of various special tariff preference programs grants certain trade benefits and duty-free treatments, further promoting economic cooperation and development among participating countries.