When it comes to international trade, the Harmonized System (HS) codes play a crucial role in identifying and classifying different products. One such HS code is 29163415, which pertains to odoriferous or flavoring compounds of phenylacetic acid and its salts.
Phenylacetic acid is an organic compound commonly used in the production of fragrances and flavors. It is known for its pleasant odor and is widely used in various industries, including the perfume, food, and pharmaceutical sectors.
The HS code 29163415 specifically covers the different compounds derived from phenylacetic acid and its salts. These compounds are responsible for imparting fragrance or flavor to various products, making them essential components in the manufacturing processes.
When importing or exporting products classified under HS code 29163415, it is important to consider the associated duty rates. The bound or most-favored-nation (MFN) duty rate for this HS code is 6.5%. This means that every time 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.
The quantity unit for products under HS code 29163415 is kilograms (KG). This unit of measure helps in accurately determining the weight of the compounds being imported or exported.
Several special tariff preference programs are available for products classified under HS code 29163415. These programs offer various benefits such as duty-free treatment or special rates. The countries eligible for these programs include:
These special tariff preference programs aim to promote trade and economic cooperation between countries by providing favorable conditions for imports and exports of specific goods.
When it comes to importing products classified under HS code 29163415, it is essential to consider the regulations and requirements of both the importing and exporting US states. Different states may have their own specific rules and procedures that need to be followed to ensure smooth and compliant trade.
HS code 29163415 covers odoriferous or flavoring compounds of phenylacetic acid and its salts. It is an essential code for identifying and classifying these compounds in international trade. Understanding the duty rates, quantity unit, and special tariff preference programs associated with this HS code is crucial for importers and exporters alike.