The Harmonized System (HS) is an internationally recognized system for classifying products traded across borders. Each product is assigned a specific HS code, which helps customs authorities and traders identify and classify goods. In this article, we will delve into the details of HS code 29161250, which pertains to nonaromatic esters of acrylic acid.
Nonaromatic esters of acrylic acid are chemical compounds used in various industries, including coatings, adhesives, textiles, and plastics. These esters are derived from acrylic acid, a versatile compound known for its ability to polymerize and form polymethyl methacrylate (PMMA) and other acrylic resins.
HS code 29161250 specifically covers nonaromatic esters of acrylic acid. The code provides a standardized classification for these esters, making it easier for customs authorities to identify and track their import and export.
The product description for HS code 29161250 is "Nonaromatic esters of acrylic acid." This description highlights the nature of the chemical compound and distinguishes it from other esters or derivatives of acrylic acid.
The bound / MFN (Most Favored Nation) duty rate for HS code 29161250 is 3.7%. The MFN duty rate is the rate applied to imports from all trading partners, ensuring equal treatment for all countries. This rate remains constant unless a country lowers its trade barriers or opens up its market, in which case the new rate applies to all trading partners.
The duty rate is an important factor in determining the cost of importing or exporting nonaromatic esters of acrylic acid. Importers and exporters need to consider this rate when calculating the overall expenses and pricing of their products.
The quantity unit for HS code 29161250 is kilograms (KG). This unit of measurement is commonly used for weighing and quantifying chemical substances, providing a standardized basis for trade and transactions.
Nonaromatic esters of acrylic acid classified under HS code 29161250 may benefit from special tariff preference programs. These programs offer preferential treatment in terms of duty rates for specific countries. The following countries have special tariff rates for this HS code:
These special tariff preference programs aim to promote trade and economic cooperation between countries by reducing or eliminating import duties for specific products. Importers and exporters dealing with nonaromatic esters of acrylic acid should take advantage of these programs to optimize their trade activities.
HS code 29161250 applies to import and export transactions involving nonaromatic esters of acrylic acid in the United States. Importing US states and exporting US states can engage in trade activities related to this product code.
Importers and exporters in the United States should be familiar with the regulations, documentation, and requirements associated with HS code 29161250. Compliance with customs procedures and trade regulations is essential to ensure smooth import and export operations.
HS code 29161250 covers nonaromatic esters of acrylic acid, which are widely used in various industries. Understanding the details and implications of this HS code is crucial for importers, exporters, and all stakeholders involved in the trade of these chemical compounds.