When it comes to international trade, understanding the Harmonized System (HS) codes is essential. These codes are used to classify and categorize products for customs and tariff purposes. In this article, we will delve into the HS Code 29089915, which pertains to derivatives of phenol or phenol-alcohols containing only sulfo groups, their salts and esters, nesoi.
The HS Code 29089915 refers to derivatives of phenol or phenol-alcohols that contain only sulfo groups, along with their salts and esters. These substances are classified under the "Not Elsewhere Specified" (nesoi) category, meaning they do not fit into any other specific classification within the HS system.
Phenol derivatives play a crucial role in various industries, including pharmaceuticals, cosmetics, and chemical manufacturing. These compounds are widely used in the production of dyes, antioxidants, and surfactants due to their unique properties and versatile nature.
The bound or Most Favored Nation (MFN) duty rate for the HS Code 29089915 is 5.5%. The MFN principle ensures that whenever 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 uniformly to imports of derivatives of phenol or phenol-alcohols regardless of their origin.
The quantity unit for the HS Code 29089915 is kilograms (KG). This unit of measurement is commonly used in international trade to quantify the weight of goods being imported or exported.
The derivatives of phenol or phenol-alcohols classified under HS Code 29089915 may be eligible for various special tariff preference programs. These programs provide preferential treatment in terms of duty rates for imports from specific countries or regions. Some of the notable preference programs applicable to this HS code include:
The HS Code 29089915 has import and export data for various US states. In this case, the product has been imported from and exported to the state of Arkansas multiple times. The exact details of the import and export transactions, such as quantities and values, can be obtained from the relevant trade databases and customs authorities.
Understanding the HS Code 29089915 and its implications can help businesses navigate international trade regulations, determine applicable duty rates, and take advantage of special tariff preference programs. Whether you are involved in the production, import, or export of derivatives of phenol or phenol-alcohols, staying informed about the relevant HS codes is crucial for a successful and compliant trade operation.