When it comes to international trade, it is essential to have a standardized system in place to classify and identify products. One such system is the Harmonized System (HS) code, a globally recognized classification system used by customs authorities to categorize goods. In this article, we will explore the HS code 29159020, which pertains to aromatic anhydrides, halides, peroxides, and peroxyacids of saturated acyclic monocarboxylic acids, and their derivatives.
The HS code 29159020 encompasses a range of chemical compounds derived from saturated acyclic monocarboxylic acids. These compounds include aromatic anhydrides, halides, peroxides, and peroxyacids. Aromatic anhydrides are organic compounds formed by the removal of water from two carboxylic acid groups in an aromatic acid. Halides refer to compounds in which one or more hydrogen atoms in an organic compound are replaced by halogen elements. Peroxides and peroxyacids contain the peroxide group (-O-O-) or peroxy group (-O-OH), respectively.
It is important to note that the HS code 29159020 covers derivatives of these compounds as well. Derivatives can refer to various modifications or substitutions made to the original compound, resulting in new chemical entities with distinct properties.
The bound / MFN (Most Favored Nation) duty rate for products falling under HS code 29159020 is 5.5%. The MFN principle dictates that when a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This ensures fair and non-discriminatory treatment in international trade.
The quantity unit for HS code 29159020 is kilograms (KG). This unit of measurement is commonly used to quantify the weight or mass of goods being traded.
Several special tariff preference programs provide favorable treatment for products classified under HS code 29159020. These programs aim to promote trade, economic development, and cooperation between countries. Here are some of the special tariff preference programs applicable to products under this HS code:
These special tariff preference programs aim to reduce trade barriers, promote economic growth, and strengthen trade relationships between countries.
Products classified under HS code 29159020 can be imported into and exported from various US states. The import and export of these products contribute to international trade and economic activities. Some of the US states involved in the import and export of products falling under this HS code include but are not limited to:
These states serve as vital hubs for international trade, facilitating the movement of goods across borders.
The HS code 29159020 encompasses aromatic anhydrides, halides, peroxides, and peroxyacids of saturated acyclic monocarboxylic acids, and their derivatives. This comprehensive guide has provided an in-depth understanding of this HS code, including its product description, bound / MFN duty rate, quantity unit, special tariff preference programs, and the involvement of various US states in importing and exporting products falling under this code. By adhering to the HS code system, countries can ensure efficient and standardized trade practices.
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