HS Code 29146990: Quinones, nesoi
Quinones, nesoi is a product that falls under the HS Code 29146990. This code is used to classify and identify specific goods during international trade. It is important for importers and exporters to understand the HS Code system as it helps in determining the customs duty rates, trade preferences, and other regulations associated with a particular product.
The product description for HS Code 29146990 is "Quinones, nesoi." Quinones are a class of organic compounds that are widely used in various industries such as pharmaceuticals, dyes, and polymers. They are characterized by their aromatic nature and are known for their diverse chemical properties.
The bound or most-favored-nation (MFN) duty rate for products classified under HS Code 29146990 is 5.5%. This means that whenever a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. The duty rate is the percentage of the product's value that needs to be paid as customs duty when importing or exporting.
The quantity unit for HS Code 29146990 is kilograms (KG). This unit is used to measure the weight of the product being imported or exported. It is important to accurately declare the quantity of the product to ensure compliance with customs regulations and to determine the appropriate duty amount.
HS Code 29146990 is eligible for various special tariff preference programs. These programs provide preferential treatment in terms of duty rates or duty-free treatment for imports and exports. Some of the special tariff preference programs applicable to HS Code 29146990 include:
- Free Trade Agreement (FTA): Imports from countries that have a free trade agreement with the importing country may be eligible for duty-free treatment. Countries such as Australia, Canada (under NAFTA), Chile, and Singapore have special tariff rates or duty-free treatment for products classified under HS Code 29146990.
- Generalized System of Preferences (GSP): Least-developed beneficiary developing countries may be eligible for duty-free treatment under the GSP program. This program aims to promote economic growth in these countries by providing preferential access to developed markets.
- Other special rates and agreements: Certain countries or regions have specific agreements or rates for products classified under HS Code 29146990. Examples include Bahrain, Israel, Jordan, Morocco, Oman, Peru, and the Dominican Republic-Central American countries (DR-CAFTA).
When importing or exporting products classified under HS Code 29146990, it is important to consider the specific regulations and requirements of the importing and exporting US states. Each state may have its own rules regarding customs procedures, documentation, and licensing. It is crucial to comply with these regulations to ensure smooth trade operations and avoid any penalties or delays.
HS Code 29146990 is used to classify and identify Quinones, nesoi. Understanding the HS Code system is essential for importers and exporters as it helps in determining customs duty rates, trade preferences, and other regulations associated with the product. Importers and exporters should also be aware of the special tariff preference programs and specific regulations of the importing and exporting US states to ensure compliance and smooth trade operations.
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