HS Code 29163150: Benzoic Acid Esters, nesoi

When it comes to international trade, the Harmonized System (HS) Code plays a crucial role in categorizing products for seamless import and export processes. In this article, we will explore the HS Code 29163150, which refers to Benzoic Acid Esters, nesoi.

Benzoic acid esters are organic compounds commonly used in various industries, including pharmaceuticals, cosmetics, and food and beverages. These esters are derived from benzoic acid and alcohol, resulting in a wide range of applications due to their unique properties.

Now, let's delve deeper into the details of HS Code 29163150:

Product Description

The HS Code 29163150 specifically covers Benzoic Acid Esters, nesoi. "Nesoi" stands for "not elsewhere specified or included," indicating that this HS Code encompasses all other types of benzoic acid esters that are not classified under other specific codes.

Bound / MFN Duty Rate

The bound or most-favored-nation (MFN) duty rate for HS Code 29163150 is 6.5%. This rate applies whenever a country lowers a trade barrier or opens up a market, ensuring that the same goods or services receive equal treatment from all trading partners.

Quantity Unit

The quantity unit for HS Code 29163150 is kilograms (KG). This unit of measurement allows for accurate tracking and calculation of the amount of benzoic acid esters being imported or exported.

Special Tariff Preference Programs

Several special tariff preference programs apply to imports classified under HS Code 29163150. These programs offer specific benefits or exemptions to eligible countries. Let's take a closer look at some of these programs:

Free: Imports from least-developed beneficiary developing countries eligible for Generalized System of Preferences (GSP) under that subheading receive duty-free treatment.
Australia Special Rate: Australia has a special rate for imports classified under this HS Code.
Bahrain Special Rate: Bahrain offers a special rate for imports of benzoic acid esters.
NAFTA for Canada: Imports from Canada receive duty-free treatment under the North American Free Trade Agreement (NAFTA).
Chile Special Rate: Chile has a special rate for imports of these esters.
Africa Growth and Opportunity Act (AGOA): Imports from eligible African countries receive duty-free treatment under AGOA.
Caribbean Basin Initiative (CBI): Imports from CBI countries enjoy duty-free treatment.
Israel Special Rate: Israel offers duty-free treatment for imports of benzoic acid esters.
Andean Trade Preference Act (ATPA): ATPA provides duty-free treatment for imports from Andean countries.
Jordan Special Rate: Jordan offers a special rate for imports classified under this HS Code.
Agreement on Trade in Pharmaceutical Products: Imports under this agreement receive duty-free treatment.
Morocco Special Rate: Morocco has a special rate for imports of benzoic acid esters.
NAFTA for Mexico: Imports from Mexico receive duty-free treatment under NAFTA.
Oman Special Rate: Oman offers a special rate for imports classified under this HS Code.
Dominican Republic-Central American Special Rate (DR-CAFTA): DR-CAFTA provides a special rate for imports from participating countries.
Peru Special Rate: Peru has a special rate for imports of these esters.
1.1% (SG): Singapore offers a special rate of 1.1% for imports of benzoic acid esters.

Importing US States and Exporting US States

HS Code 29163150 is applicable to imports and exports involving various states in the United States. The specific importing and exporting states may vary depending on the trade dynamics and market demand for benzoic acid esters.

Understanding HS Code 29163150 is crucial for businesses involved in the import and export of benzoic acid esters. It helps streamline customs procedures, ensures accurate classification of products, and enables businesses to take advantage of applicable tariff preference programs.