When it comes to international trade, it is important to have a standardized system for classifying products. The Harmonized System (HS) Code is a globally recognized system that assigns a unique code to each product, making it easier for governments and businesses to track and regulate trade.
In this article, we will explore the HS Code 29147030 and provide an in-depth understanding of the product it represents. We will also discuss the bound / most-favored-nation (MFN) duty rate, quantity unit, and special tariff preference programs associated with this HS Code.
The HS Code 29147030 represents two distinct chemical compounds: Anthraquinone disulfonic acid, sodium salt; and 4-(3,4-dichlorophenyl)-1-tetralone.
Anthraquinone disulfonic acid, sodium salt, is a chemical compound used in various industries, including the textile, paper, and dye manufacturing sectors. It is primarily used as a dye intermediate and as a component in the production of pigments and colorants.
4-(3,4-dichlorophenyl)-1-tetralone is another chemical compound that finds applications in the pharmaceutical and chemical industries. It is used as a precursor in the synthesis of pharmaceutical drugs and other organic compounds.
The bound / MFN duty rate for the HS Code 29147030 is free. This means that no duty or tariff is applicable when importing or exporting this product between countries.
Trade barriers, such as import duties and tariffs, can hinder international trade and limit market access. However, the principle of most-favored-nation (MFN) treatment ensures that any trade barrier reduction or market opening undertaken by a country must be extended to all its trading partners equally.
This commitment to equal treatment encourages fair and non-discriminatory trade practices, promoting a level playing field for all participants in the global marketplace.
The quantity unit for the HS Code 29147030 is kilograms (KG). This unit of measurement is commonly used in trade to determine the weight or mass of a product being imported or exported.
By using a standardized quantity unit, such as kilograms, it becomes easier to calculate shipping costs, monitor inventory levels, and ensure accurate record-keeping throughout the supply chain.
The HS Code 29147030 is eligible for various special tariff preference programs. These programs provide preferential treatment to specific countries or regions, allowing for reduced or duty-free import/export of the product.
The special tariff preference programs applicable to the HS Code 29147030 are as follows:
These special tariff preference programs serve to promote trade and strengthen economic ties between participating countries. By offering preferential treatment, they help reduce trade barriers and encourage the exchange of goods and services.
the HS Code 29147030 represents Anthraquinone disulfonic acid, sodium salt, and 4-(3,4-dichlorophenyl)-1-tetralone. This code is used to classify and regulate the import/export of these chemical compounds. Understanding the bound / MFN duty rate, quantity unit, and special tariff preference programs associated with this HS Code is essential for businesses and governments involved in international trade.