When it comes to international trade, the Harmonized System (HS) Code plays a vital role in classifying products. The HS Code 29163555 refers to Phenylacetic Acid Esters, Nesoi. In this article, we will explore the details of this HS Code and discuss its implications in global trade.
Phenylacetic Acid Esters, Nesoi, are chemicals that are widely used in various industries, including pharmaceuticals, fragrances, and flavors. These esters are derived from phenylacetic acid and have a wide range of applications.
The Bound / MFN (Most Favored Nation) duty rate for this HS Code is free. This means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners. This promotes fair and equal trade practices among nations.
The quantity unit for this HS Code is kilograms (KG). This unit of measurement is commonly used in international trade to determine the quantity of goods being imported or exported.
There are also special tariff preference programs associated with this HS Code. The following countries enjoy preferential treatment when importing Phenylacetic Acid Esters, Nesoi:
These special tariff preference programs aim to promote trade and economic development between countries by providing preferential treatment to certain trading partners.
In terms of import and export, the HS Code 29163555 for Phenylacetic Acid Esters, Nesoi, is relevant to both importing and exporting US states. It is important for businesses in the United States to be aware of this HS Code when engaging in international trade.
the HS Code 29163555 represents Phenylacetic Acid Esters, Nesoi, and is an essential classification for international trade. Understanding the details and implications of this HS Code is crucial for businesses and governments involved in global commerce.