Cresols and their salts are a type of chemical compound that is classified under HS Code 29071200. This HS code is used to identify and categorize specific products for international trade purposes. In this article, we will delve deeper into the product description, duty rates, quantity units, and special tariff preference programs associated with HS Code 29071200.
Cresols and their salts are organic compounds that are commonly used in various industries such as pharmaceuticals, plastics, and rubber manufacturing. They are derived from coal tar or petroleum and are known for their antiseptic properties. Cresols and their salts are often used as intermediates in the production of various chemicals, disinfectants, and herbicides.
The bound / MFN (Most Favored Nation) duty rate for HS Code 29071200 is 4.2%. This means that every time a country lowers a trade barrier or opens up a market, it has to apply the same duty rate for the import or export of cresols and their salts from all its trading partners. The duty rate is a percentage of the product's value and is imposed to generate revenue for the importing country and protect domestic industries.
The quantity unit for HS Code 29071200 is kilograms (KG). This unit of measurement is used to determine the weight of the cresols and their salts being imported or exported. It is essential for accurate record-keeping and to ensure compliance with international trade regulations.
HS Code 29071200 is eligible for various special tariff preference programs. Some countries offer duty-free treatment for the import or export of cresols and their salts under specific conditions. The following countries provide special tariff rates for HS Code 29071200:
These special tariff preference programs aim to promote international trade, foster economic cooperation, and provide benefits to countries that fulfill certain criteria or engage in specific trade agreements.
HS Code 29071200 applies to both importing and exporting activities involving cresols and their salts in the United States. The specific states involved in these trade transactions may vary depending on the demand and supply dynamics of the market. Some of the major importing and exporting states in the US for HS Code 29071200 include California, Texas, New York, Illinois, and Pennsylvania.
HS Code 29071200 represents cresols and their salts, which are essential chemical compounds used in various industries. Understanding the product description, duty rates, quantity units, and special tariff preference programs associated with HS Code 29071200 is crucial for importers, exporters, and other stakeholders involved in international trade.