HS Code 29096050: Nonaromatic Alcohol, Ether and Ketone Peroxides and Their Derivatives
The HS Code 29096050 refers to nonaromatic alcohol, ether, and ketone peroxides, as well as their halogenated, sulfonated, nitrated, or nitrosated derivatives. This code is used to classify this specific type of chemical compound for international trade purposes.
Importers and exporters need to be aware of the HS Code 29096050 when dealing with these substances. The code helps in identifying and categorizing the products, ensuring smooth customs procedures and accurate documentation.
Product Description:
Nonaromatic alcohol, ether, and ketone peroxides and their derivatives are chemical compounds that find applications in various industries. These substances are known for their reactive properties and are often used as initiators or catalysts in chemical reactions. They are commonly used in the production of polymers, resins, and other organic compounds.
Bound/MFN Duty Rate:
The MFN (Most Favored Nation) duty rate for HS Code 29096050 is 3.7%. 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. The duty rate ensures fair and equal treatment for all trading partners.
Quantity Unit:
The quantity unit for HS Code 29096050 is kilograms (KG). This unit of measurement is used to quantify the weight or mass of the nonaromatic alcohol, ether, and ketone peroxides and their derivatives being imported or exported.
Special Tariff Preference Programs:
Several special tariff preference programs provide duty-free treatment for products classified under HS Code 29096050. These programs include:
1. Generalized System of Preferences (GSP): This program offers duty-free treatment for eligible products imported from developing countries.
2. Australia Special Rate: Australia provides a special rate for imports of nonaromatic alcohol, ether, and ketone peroxides and their derivatives.
3. Bahrain Special Rate: Bahrain offers a special rate for imports of these chemical compounds.
4. NAFTA for Canada: Under the North American Free Trade Agreement (NAFTA), Canada provides duty-free treatment for products classified under this HS Code.
5. Chile Special Rate: Chile offers a special rate for imports of nonaromatic alcohol, ether, and ketone peroxides and their derivatives.
6. Caribbean Basin Initiative (CBI): This program provides duty-free treatment for eligible products imported from designated countries in the Caribbean region.
7. Israel Special Rate: Israel offers duty-free treatment for imports of these chemical compounds.
8. Andean Trade Preference Act (ATPA): This program provides duty-free treatment for eligible products imported from designated Andean countries.
9. Jordan Special Rate: Jordan offers a special rate for imports of nonaromatic alcohol, ether, and ketone peroxides and their derivatives.
10. Morocco Special Rate: Morocco provides a special rate for imports of these chemical compounds.
11. NAFTA for Mexico: Similar to Canada, Mexico provides duty-free treatment for products classified under this HS Code under NAFTA.
12. Oman Special Rate: Oman offers a special rate for imports of nonaromatic alcohol, ether, and ketone peroxides and their derivatives.
13. Dominican Republic-Central American Special Rate (DR-CAFTA): This program provides duty-free treatment for eligible products imported from designated Central American countries and the Dominican Republic.
14. Peru Special Rate: Peru offers a special rate for imports of these chemical compounds.
15. Singapore Special Rate: Singapore provides a special rate for imports of nonaromatic alcohol, ether, and ketone peroxides and their derivatives.
Importing and Exporting US States:
HS Code 29096050 is relevant for both importing and exporting US states. Importers located in any US state can bring in nonaromatic alcohol, ether, and ketone peroxides and their derivatives classified under this code. Similarly, exporters from any US state can ship these products to international markets.
Conclusion:
Understanding the HS Code 29096050 is crucial for importers and exporters dealing with nonaromatic alcohol, ether, and ketone peroxides and their derivatives. This code helps in accurately classifying the products, determining duty rates, and availing special tariff preference programs. By complying with the regulations associated with this HS Code, businesses can ensure smooth international trade operations and take advantage of duty-free treatment in various countries.
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