Phenylacetic acid, also known as alpha-Toluic acid, is a chemical compound with various applications in industries such as pharmaceuticals, perfumes, and food. It is classified under HS Code 29163410, and this article aims to provide an in-depth understanding of this product and its import/export regulations.
Phenylacetic acid, represented by the HS Code 29163410, is an organic compound with the molecular formula C8H8O2. It is a colorless liquid with a distinctive sweet, honey-like odor. The compound is widely used as an intermediate in the synthesis of various pharmaceuticals, including antibiotics, sedatives, and analgesics.
The applications of phenylacetic acid extend beyond the pharmaceutical industry. It is also utilized in the production of perfumes and fragrances due to its pleasant aroma. Additionally, it serves as a flavoring agent in the food industry, contributing to the characteristic taste of certain products.
When importing or exporting phenylacetic acid, it is essential to consider the bound/MFN duty rate. Currently, the duty rate for this product stands at 6.5%. This rate applies uniformly to all countries, ensuring fair trade practices and equal treatment for goods and services.
Trade barriers and market access restrictions are gradually being lowered worldwide, and as a result, the duty rate for phenylacetic acid may change in the future. It is crucial for businesses to stay updated with the latest trade agreements and regulations to effectively plan their import/export operations.
The quantity unit for phenylacetic acid, as per the HS Code 29163410, is kilograms (KG). This unit of measurement is used to quantify the amount of phenylacetic acid being imported or exported. It provides a standardized means of tracking and reporting the volume of the product involved in trade transactions.
Phenylacetic acid, classified under HS Code 29163410, enjoys special tariff preference programs in various countries. These programs offer favorable trade conditions, including duty-free treatment, for specific trading partners. The following countries and regions have implemented special tariff preferences for phenylacetic acid:
These special tariff preference programs aim to promote trade and economic development by providing benefits to specific countries or regions. Importers and exporters of phenylacetic acid should be aware of these programs to leverage the available advantages and optimize their international trade strategies.
Phenylacetic acid, under HS Code 29163410, is imported and exported across various states within the United States. The exact import/export routes may vary depending on the specific trade agreements and business relationships between states. However, some of the prominent importing and exporting US states for phenylacetic acid include:
These states play a crucial role in the import and export of phenylacetic acid, contributing to the overall trade volume of this chemical compound within the United States.
phenylacetic acid (alpha-Toluic acid) falls under HS Code 29163410 and has significant applications in pharmaceuticals, perfumes, and the food industry. Understanding the product description, bound/MFN duty rate, quantity unit, and special tariff preference programs is vital for businesses involved in the import/export of phenylacetic acid. Additionally, being aware of the importing and exporting US states helps identify key trade routes within the United States.