HS Code 29072250: Hydroquinone (Quinol) and its salts, other than photographic grade
Hydroquinone, also known as Quinol, is a chemical compound that is widely used in various industries for its unique properties. It is categorized under HS Code 29072250, which specifically refers to Hydroquinone and its salts, excluding those of photographic grade.
The HS Code is an internationally recognized system used to classify products for customs and trade purposes. It helps in standardizing the identification of goods and ensures consistency in trade regulations across different countries.
Under the HS Code 29072250, the bound or Most Favored Nation (MFN) duty rate is 5.5%. This means that every time a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This duty rate applies to all imports of Hydroquinone and its salts, regardless of the country of origin.
The quantity unit for Hydroquinone imports is measured in kilograms (KG). This unit of measurement helps in accurately determining the weight and quantity of the imported product.
In addition to the duty rate and quantity unit, there are special tariff preference programs available for imports of Hydroquinone under HS Code 29072250. These programs provide certain countries with preferential treatment or duty-free access to the US market. Some of the special tariff preference programs applicable to Hydroquinone imports are:
1. Free Trade Agreement (FTA) countries: Imports from countries with free trade agreements with the US, such as Australia (A+), Bahrain (BH), Canada (CA), Chile (CL), Dominican Republic-Central America (DR-CAFTA), Israel (IL), Jordan (J), Mexico (MX), Morocco (MA), Oman (OM), Peru (PE), and Singapore (SG), are eligible for duty-free treatment.
2. Africa Growth and Opportunity Act (AGOA): Imports from eligible African countries under the AGOA program are granted duty-free treatment.
3. Caribbean Basin Initiative (CBI): Imports from eligible Caribbean countries under the CBI program receive duty-free treatment.
4. Andean Trade Preference Act (ATPA): Imports from eligible Andean countries under the ATPA program enjoy duty-free treatment.
It is important for importers and exporters to be aware of these special tariff preference programs to take advantage of the benefits they offer. By understanding the HS Code and the associated tariff rates, businesses can effectively plan their import/export strategies and optimize their trade operations.
When it comes to importing Hydroquinone under HS Code 29072250, there are no restrictions on the importing US states or the exporting US states. This means that the product can be imported or exported from any state within the United States without any specific limitations or requirements.
HS Code 29072250 represents Hydroquinone (Quinol) and its salts, excluding those of photographic grade. It is important for businesses involved in the import/export of Hydroquinone to understand the HS Code and its associated regulations. By staying informed about the duty rates, special tariff preference programs, and other relevant details, businesses can navigate the international trade landscape more effectively and ensure compliance with customs regulations.
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