HS Code 29142300: Ionones and Methylionones
When it comes to international trade, it is important to have a standardized system for classifying products. This is where the Harmonized System (HS) codes come into play. Each product is assigned a unique code that helps in identifying and categorizing it for customs and trade purposes. One such HS code is 29142300, which is used for Ionones and Methylionones.
Ionones and Methylionones are organic compounds that find application in various industries, including the fragrance and flavor industry. These compounds are commonly used as ingredients in perfumes, colognes, and other scented products to create pleasant and long-lasting smells.
The HS code 29142300 is associated with specific information related to the product, including tariff rates and special tariff preference programs. Let's take a closer look at the details:
- Bound / MFN Duty Rate: The duty rate for products classified under HS code 29142300 is 5.5%. This means that when a country lowers a trade barrier or opens up a market, it has to apply the same duty rate for Ionones and Methylionones from all its trading partners.
- Quantity Unit: The quantity unit for this HS code is kilograms (KG). This is the standard unit used for measuring the weight or quantity of the product during import or export.
- Special Tariff Preference Programs: Ionones and Methylionones classified under HS code 29142300 are eligible for various special tariff preference programs. These programs provide specific benefits and duty-free treatment for the import of these products. Some of the countries and programs that offer these benefits include:
- Generalized System of Preferences (GSP): Provides duty-free treatment for eligible products
- Australia Special Rate: Specific tariff rate offered by Australia
- Bahrain Special Rate: Specific tariff rate offered by Bahrain
- NAFTA for Canada: Duty-free treatment under the North American Free Trade Agreement
- Chile Special Rate: Specific tariff rate offered by Chile
- Caribbean Basin Initiative (CBI): Duty-free treatment for eligible products from designated beneficiary countries
- Israel Special Rate: Duty-free treatment offered by Israel
- Andean Trade Preference Act (ATPA): Duty-free treatment for eligible products from Andean countries
- Jordan Special Rate: Specific tariff rate offered by Jordan
- Morocco Special Rate: Specific tariff rate offered by Morocco
- NAFTA for Mexico: Duty-free treatment under the North American Free Trade Agreement
- Oman Special Rate: Specific tariff rate offered by Oman
- Dominican Republic-Central American Special Rate (DR-CAFTA): Duty-free treatment for eligible products from participating countries
- Peru Special Rate: Specific tariff rate offered by Peru
- Singapore Special Rate: Specific tariff rate offered by Singapore
Now, let's take a look at the importing and exporting US states for products classified under HS code 29142300:
- Importing US States: Ionones and Methylionones are imported into various states in the US. One such state is West Virginia.
- Exporting US States: Ionones and Methylionones are exported from the US to various states. One such state is also West Virginia.
It is important to note that this information is subject to change and it is always recommended to consult the official sources and relevant authorities for the most up-to-date and accurate information regarding HS codes and trade regulations.
HS code 29142300 is used for Ionones and Methylionones, which are organic compounds used in the fragrance and flavor industry. This HS code is associated with a duty rate, quantity unit, and special tariff preference programs that provide benefits and duty-free treatment for eligible imports. Understanding HS codes is crucial for businesses involved in international trade to ensure compliance and take advantage of trade preferences.
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