Acetic acid is a versatile chemical compound that finds applications in various industries, including pharmaceuticals, textiles, and food processing. It is classified under HS Code 29152100, which helps in identifying and categorizing products for international trade. In this article, we will explore the product description, duty rates, quantity unit, and special tariff preference programs associated with this HS Code.
Acetic acid, with the chemical formula CH3COOH, is a colorless liquid with a pungent smell. It is an organic acid commonly known as vinegar acid. Acetic acid is used in the production of vinyl acetate monomer, which is further utilized in the manufacturing of adhesives, coatings, and textiles. It also acts as a key ingredient in the production of pharmaceuticals, dyes, and solvents.
The bound or MFN (Most Favored Nation) duty rate for HS Code 29152100 is 1.8%. This rate implies that every time a country lowers a trade barrier or opens up a market, it must apply the same duty rate to all its trading partners for the same goods or services. This ensures fair and non-discriminatory trade practices among nations.
The quantity unit for acetic acid under HS Code 29152100 is kilograms (KG). This unit of measurement is commonly used in international trade to determine the weight of goods being imported or exported. It helps in accurately calculating the quantity and cost of acetic acid involved in trade transactions.
Acetic acid classified under HS Code 29152100 benefits from various special tariff preference programs. These programs provide specific trade advantages and preferential treatment to eligible countries. The following special tariff preference programs apply to acetic acid:
These special tariff preference programs aim to promote trade, economic growth, and collaboration between countries by reducing or eliminating import duties on specific goods, including acetic acid.
Acetic acid classified under HS Code 29152100 can be imported into and exported from various US states. The specific states involved in the import and export of acetic acid may vary depending on trade agreements, market demands, and supply chains. Some of the prominent US states engaged in the import and export of acetic acid include:
These states serve as major hubs for international trade and have well-established infrastructure, ports, and distribution networks to facilitate the import and export of acetic acid.
HS Code 29152100 encompasses acetic acid, a valuable chemical compound used in various industries. The bound / MFN duty rate, quantity unit, and special tariff preference programs associated with this HS Code play a crucial role in international trade. Understanding these aspects helps businesses and traders navigate the complexities of importing and exporting acetic acid while benefiting from preferential treatment and trade agreements.