Malonic acid, classified under HS Code 29171935, is a chemical compound that finds applications in various industries such as pharmaceuticals, agrochemicals, and cosmetics. In this article, we will delve into the details of this versatile substance, its uses, and the trade regulations surrounding it.
Malonic acid, also known as propanedioic acid, is an organic compound with the chemical formula C3H4O4. It is a white crystalline solid that is soluble in water and polar organic solvents. The acid is derived from malonate, an ester of malonic acid, which serves as a precursor for the synthesis of various chemicals.
The HS (Harmonized System) Code 29171935 is specifically assigned to malonic acid. This code is part of the international HS system, which is used to classify and identify traded goods. HS codes are essential for customs authorities to determine the appropriate tariffs, trade policies, and regulations applicable to specific products.
The bound / MFN (Most Favored Nation) duty rate for malonic acid is free. This means that countries must apply no tariffs or duties when importing or exporting malonic acid. The principle behind the MFN duty rate is that when a country lowers a trade barrier or opens up a market, it must do so for all its trading partners equally.
The quantity unit for malonic acid is kilograms (KG). This unit is commonly used in international trade to measure the weight or quantity of products being imported or exported.
Malonic acid enjoys special tariff preference programs in several countries. These programs provide duty-free treatment or reduced tariffs for imports and exports of malonic acid. The countries and programs offering special tariff rates for malonic acid include:
These special tariff preference programs aim to promote trade and economic cooperation by reducing or eliminating trade barriers for specific goods. Importers and exporters of malonic acid can benefit from these programs to enhance their competitiveness in the global market.
Malonic acid can be imported into and exported from various states in the United States. The specific states involved in the import and export of malonic acid may vary based on market demand and supply chain dynamics. Some of the prominent importing and exporting states for malonic acid in the US include:
These states play a vital role in facilitating the trade of malonic acid within the United States and with international partners.
Malonic acid, with its diverse applications and special tariff preference programs, holds significant importance in international trade. The HS Code 29171935 helps in the proper classification, regulation, and facilitation of the trade of malonic acid. As the global market continues to evolve, understanding the intricacies of HS codes and trade policies becomes crucial for businesses involved in the import and export of this versatile compound.