The HS Code 29163920 refers to odoriferous or flavoring compounds of aromatic monocarboxylic acids, their anhydrides, halides, peroxides, peroxyacids, and derivatives. This code is used to classify and identify specific products for international trade purposes. It provides a standardized system for customs authorities to determine the appropriate duty rates, import and export regulations, and other trade-related information.
The product description of HS Code 29163920 indicates that it includes compounds that have aromatic properties and are used for their odor or flavor. These compounds are derived from monocarboxylic acids and can exist in various forms such as anhydrides, halides, peroxides, peroxyacids, and their derivatives. They are commonly used in industries such as perfumery, food and beverage, cosmetics, and pharmaceuticals.
When importing or exporting products classified under HS Code 29163920, it is important to consider the applicable duty rates. The bound or Most Favored Nation (MFN) duty rate for this code is 6.5%. This means that regardless of the trading partner or country, a consistent duty rate of 6.5% will be applied. However, it is worth noting that countries may have special tariff preference programs in place that provide duty-free treatment for certain trading partners.
The quantity unit for products classified under HS Code 29163920 is kilograms (KG). This unit of measurement is used to determine the weight or quantity of the imported or exported goods.
Several special tariff preference programs offer duty-free treatment for products classified under HS Code 29163920. These programs include the Generalized System of Preferences (GSP), which provides duty-free treatment for eligible developing countries. Other programs include the Australia Special Rate, Bahrain Special Rate, NAFTA for Canada, Chile Special Rate, Caribbean Basin Initiative (CBI), Israel Special Rate, Andean Trade Preference Act (ATPA), Jordan Special Rate, Morocco Special Rate, NAFTA for Mexico, Oman Special Rate, Dominican Republic-Central American Special Rate (DR-CAFTA), Peru Special Rate, and Singapore Special Rate.
When importing products classified under HS Code 29163920, it is important to understand the regulations and requirements of both the importing and exporting US states. Each state may have its own specific regulations and restrictions that need to be followed to ensure compliance with trade laws and regulations.
HS Code 29163920 encompasses odoriferous or flavoring compounds of aromatic monocarboxylic acids and their derivatives. It is essential for businesses engaged in international trade to be familiar with this code and its associated regulations, duty rates, and special tariff preference programs. By understanding and complying with these requirements, businesses can effectively navigate the complexities of global trade and ensure smooth import and export operations.