Phenol-alcohols, classified under HS Code 29072905, are a group of chemical compounds that play a vital role in various industries. In this article, we will explore the product description, quantity unit, and special tariff preference programs associated with this HS code. Additionally, we will discuss the importing and exporting US states for phenol-alcohols.
Phenol-alcohols are organic compounds derived from the combination of phenols and alcohols. These compounds exhibit a wide range of chemical and physical properties, making them valuable in industries such as pharmaceuticals, cosmetics, and manufacturing.
The HS code 29072905 specifically identifies phenol-alcohols for international trade purposes. This code is used globally to harmonize the classification of products and facilitate international trade by providing a standardized system for customs authorities.
By using the HS code 29072905, countries can impose consistent import duties, track trade statistics, and apply special tariff programs. It is crucial for businesses involved in the import and export of phenol-alcohols to accurately identify and classify their products using this HS code.
The bound or Most Favored Nation (MFN) duty rate for HS code 29072905 is 5.5%. This rate applies to all countries that lower trade barriers or open up their markets. It ensures that the same goods or services receive equal treatment from all trading partners of a country.
The 5.5% duty rate serves as a baseline for importers and exporters dealing with phenol-alcohols. It is essential to consider this rate when calculating the cost of importing or exporting these products.
The quantity unit for HS code 29072905 is kilograms (KG). This unit of measurement is widely used in international trade to quantify the weight of goods being imported or exported. Importers and exporters dealing with phenol-alcohols need to accurately measure and report the quantity in kilograms.
Several special tariff preference programs exist for phenol-alcohols under HS code 29072905. These programs provide preferential treatment or exemptions from import duties for eligible countries. The following programs are applicable:
These special tariff preference programs aim to promote trade and economic development between countries. Importers and exporters should familiarize themselves with the specific requirements and conditions of each program to take advantage of the associated benefits.
When it comes to importing phenol-alcohols under HS code 29072905, various states in the United States engage in these trade activities. Some prominent importing states include California, Texas, New York, Illinois, and Florida.
On the other hand, several US states actively participate in the export of phenol-alcohols. These states include Texas, Louisiana, California, Pennsylvania, and New Jersey. The export of phenol-alcohols contributes to the growth of these states' economies and strengthens international trade relations.
HS Code 29072905 encompasses phenol-alcohols, which are crucial compounds used in numerous industries. Understanding the product description, quantity unit, special tariff preference programs, and the importing and exporting US states associated with this HS code is essential for businesses engaged in global trade. By adhering to the regulations and taking advantage of the available benefits, importers and exporters can navigate the international market successfully.