When it comes to international trade, the harmonized system (HS) code plays a crucial role in categorizing products for customs and tariff purposes. HS Code 29145030 specifically identifies aromatic ketone-phenols and ketones with other oxygen function. In this article, we will delve into the details of this HS code, including its product description, duty rates, quantity unit, and special tariff preference programs.
Aromatic ketone-phenols and ketones with other oxygen function fall under HS Code 29145030. This category includes various compounds that contain both ketone and phenol functional groups, along with other oxygen functionalities. These compounds are widely used in industries such as pharmaceuticals, fragrance and flavor manufacturing, and chemical synthesis.
The bound/ MFN (Most Favored Nation) duty rate for HS Code 29145030 is 5.5%. This means that every time a country lowers a trade barrier or opens up a market, it must apply the same duty rate of 5.5% to the imported goods falling under this HS code. Duty rates are important for determining the cost of importing these products and play a significant role in international trade negotiations.
The quantity unit for HS Code 29145030 is kilograms (KG). This unit is used to measure the weight of the imported or exported goods. It helps in accurately assessing the quantity of aromatic ketone-phenols and ketones with other oxygen function being traded between countries.
HS Code 29145030 is eligible for several special tariff preference programs. These programs aim to promote trade and economic development by providing preferential treatment to certain countries or regions. The special tariff preference programs applicable to this HS code are as follows:
These tariff preference programs may provide duty-free treatment or special rates for imports and exports of aromatic ketone-phenols and ketones with other oxygen function, depending on the country or region involved in the trade.
HS Code 29145030 applies to both importing and exporting states in the United States. This means that businesses and individuals in any state can import or export aromatic ketone-phenols and ketones with other oxygen function under this HS code, subject to customs regulations and duty rates.
HS Code 29145030 encompasses aromatic ketone-phenols and ketones with other oxygen function. Understanding this HS code is essential for businesses engaged in international trade of these products. From duty rates to special tariff preference programs, every aspect of this HS code affects the cost and conditions of importing and exporting aromatic ketone-phenols and ketones with other oxygen function.