Fumaric acid is a chemical compound that finds its application in various industries such as food, pharmaceuticals, and chemicals. It is primarily used as an acidulant, flavor enhancer, and preservative in food and beverages. Additionally, it is also utilized in the production of resins, polymers, and medicines. In this article, we will delve into the details of HS Code 29171917, which specifically refers to fumaric acid that is not derived from aromatic hydrocarbons.
Product Description: Fumaric acid, as per HS Code 29171917, excludes any derivatives that are sourced wholly or partially from aromatic hydrocarbons. This specific exclusion is important as it distinguishes fumaric acid produced through alternative processes, ensuring its purity and suitability for various applications.
Bound / MFN Duty Rate: The bound or most-favored nation (MFN) duty rate for HS Code 29171917 is 4.2%. The MFN duty rate is applicable whenever a country lowers a trade barrier or opens up its market. It ensures that the same duty rate is applied to all trading partners for the specified goods or services. This rate serves as a standard for international trade and promotes fair competition among nations.
Quantity Unit: The quantity unit for measuring fumaric acid under HS Code 29171917 is kilograms (KG). This unit is commonly used in international trade to facilitate accurate and standardized measurement of goods during import and export processes.
Special Tariff Preference Programs: Fumaric acid under HS Code 29171917 is eligible for various special tariff preference programs. These programs offer preferential treatment in terms of duty rates, providing cost advantages to importers and exporters. The following countries and trade agreements provide special tariff preferences for fumaric acid:
These special tariff preference programs contribute to the promotion of trade and the strengthening of economic ties between countries. They encourage importers and exporters to engage in business activities by offering favorable conditions.
Importing US States and Exporting US States: HS Code 29171917 allows the import and export of fumaric acid to and from various states in the United States. The specific importing and exporting states may vary depending on market demand, supply chains, and trade agreements. It is essential for businesses to stay updated with the latest import and export regulations and requirements for their respective states.
HS Code 29171917 represents fumaric acid that is not derived from aromatic hydrocarbons. It is a versatile chemical compound with diverse applications in industries ranging from food to pharmaceuticals. The bound / MFN duty rate of 4.2% ensures fair competition and trade among nations. Importers and exporters can benefit from special tariff preference programs that offer duty-free treatment or special rates. Understanding the nuances of HS Code 29171917 and its associated regulations is crucial for businesses involved in the international trade of fumaric acid.