When it comes to international trade, the Harmonized System (HS) plays a crucial role in classifying products and determining their respective duties. In this article, we will delve into the details of HS Code 29153945, which refers to odoriferous or flavoring compounds of nonaromatic esters of acetic acid, NESOI.
HS Code 29153945 is a specific code assigned to products that fall under the category of nonaromatic esters of acetic acid, which are used as odoriferous or flavoring compounds. These compounds are commonly utilized in various industries such as food and beverage, cosmetics, and pharmaceuticals.
According to the HS classification, the bound or most-favored-nation (MFN) duty rate for products under HS Code 29153945 is 4.8%. This means that every time 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. This duty rate is applicable to all countries unless specified otherwise through special tariff preference programs.
The quantity unit for products under HS Code 29153945 is kilograms (KG). This unit of measurement is used to determine the weight or quantity of the imported or exported goods.
Regarding special tariff preference programs, products under HS Code 29153945 enjoy free trade benefits in several countries. These countries include Australia, Austria, Bahrain, Canada, Chile, Estonia, Israel, Japan, Jordan, South Korea, Morocco, Mexico, Oman, Peru, Singapore, and many others. These special tariff preference programs provide duty-free treatment to the products, allowing for smoother trade between the participating countries.
Some of the notable special tariff preference programs applicable to HS Code 29153945 are the Generalized System of Preferences (GSP), which offers duty-free treatment, Australia Special Rate, Bahrain Special Rate, NAFTA for Canada (duty-free treatment), Chile Special Rate, Caribbean Basin Initiative (CBI), Israel Special Rate (duty-free treatment), Andean Trade Preference Act (ATPA), Jordan Special Rate, Agreement on Trade in Pharmaceutical Products (duty-free treatment), Morocco Special Rate, NAFTA for Mexico, Oman Special Rate, Dominican Republic-Central American Special Rate (DR-CAFTA), Peru Special Rate, and Singapore Special Rate.
When importing products under HS Code 29153945 to the United States, exporters need to be aware of the specific regulations and requirements of the importing US states. Similarly, when exporting these products from the United States, it is important to consider the regulations and requirements of the destination US states. Compliance with these regulations ensures smooth and efficient trade between the involved parties.
HS Code 29153945 refers to odoriferous or flavoring compounds of nonaromatic esters of acetic acid, NESOI. This code plays a crucial role in international trade by classifying these products and determining their respective duties. With the availability of special tariff preference programs, many countries offer duty-free treatment for products falling under this HS code, further facilitating global trade.